Magyar Nemzeti Bank
Hungary’s Central Bank Rate Left at 0.60%, But Officials Warn of Chance that Covid Delivers a Second Blow
August 25, 2020
There’s little remarkable in today’s Hungarian Monetary Council decision to leave its central bank base rate unchanged at 0.90%. To counter economic damage from the Covid-19 pandemic, officials engineered rate cuts of 15 basis points each at their policy reviews in June and July. Also CPI inflation rose in Hungary to 3.8% last month a […] More
Hungary’s Central Bank Interest Rate Cut 15 Basis Points to 0.60%
July 21, 2020
Officials on the Monetary Council of Magyar Nemzeti Bank reduced the central bank base rate from 0.75% to 0.60%. The rate had been also cut by 15 basis points at the June policy review after having held at 0.90% since a reduction in May 2016. In a released statement, officials note that Hungary’s economy was […] More
Hungary’s First Base Rate Cut in Four Years
June 23, 2020
The base rate of the Central Bank of Hungary, which had been at 0.90% since a 15-basis point reduction exactly four years ago, was reduced by another 15 basis points to 0.75%. CPI inflation this year is expected to hover between 3.0% and 3.5% and to average even less in 2021. The overnight deposit rate […] More
Bigger Risk Appetite of Monday Continues
April 7, 2020
Share prices in Asia closed up 9.0% in India, 4.1% in Singapore, 2.1% in China and Hong Kong, 2.0% in Japan and 1.8% in South Korea and Taiwan. Equity markets so far in Europe show additional gains today of 4.3% in Italy, 4.0% in Germany, 3.1% in France, 3.5% in Spain and 3.0% in the […] More
U.S. Fiscal Deal Gives Stocks Only Brief Lift
March 25, 2020
Today will be a very important day to watch U.S. stocks. There has yet to be two consecutive up sessions since the market peaked in mid-February. The big overnight news was a tentative accord between President Trump and the U.S. senate on a $2 trillion fiscal stimulus, which moves next to a full-senate vote today. […] More
Hungarian National Bank Interest Rates Left Unchanged
August 27, 2019
There was no interest rate change as anticipated at this month’s monetary policy review by the Magyar Nemzeti Bank Council. The base rate has been at 0.90% since a 15-basis point cut in May 2016. The overnight deposit rate was raised 10 basis points last march to -0.05%, reversing a similarly sized cut in September […] More
Dollar Up on Day with Two Large News Developments
July 23, 2019
Boris Johnson, who favors a very hard U.K. break with the EU, was selected as the new leader of the British Conservative Party and will thus succeed Theresa May tomorrow as prime minister. This development greatly increases the likelihood that Britain will leave the European Union by October 31 without any negotiated terms. U.S. congressional […] More
No Change in Hungarian Monetary Policy at Latest Review
February 26, 2019
Magyar Nemzeti Bank’s base rate has been at 0.90% since a 15-basis point cut in May 2016, and Hungary’s overnight deposit rate has been negative 0.15% since a a 10-basis point reduction in September 2017. A statement released today after the latest review speaks of eventual normalization: The Monetary Council is prepared for the gradual […] More
National Bank of Hungary
January 29, 2019
Although leaving Hungary’s central bank base rate (0.90%) and overnight deposit rate (-0.15%) unchanged at their cyclical lows, officials at Magyar Nemzeti Bank are now contemplating a policy trend reversal, affecting both its quantitative stimulus and these key interest rates. The Monetary Council is prepared for the gradual and cautious normalization of monetary policy, which […] More
Hungary’s Monetary Policy Held Unchanged
August 21, 2018
The Monetary Council at Magyar Nemzeti Bank kept its interest rate structure unchanged. Hungary’s deposit rate has been at -0.15% since a 10 basis point cut last September, and the overnight and one-week collateralized lending rates have been at 0.90% since a cut of 15 bps in May 2016. A released statement also keeps other […] More
