Central Bank of Hungary

May 24, 2017

The policy interest rate of Magyar Nemzeti Bank has been just 0.90% since a trio of cuts in March, April and May of 2016. A statement of the latest review defends the appropriateness of continuing that level and warns that “if inflation remains persistently below the target, the Council will stand ready to ease monetary conditions further using unconventional, targeted instruments.” The hope and central bank’s assumption is that CPI inflation, which was at 2.2% in April, will rise to the 3% medium-term target in the first half of next year. GDP is expected to expand 3-4% this year.

Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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