Magyar Nemzeti Bank

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 primeĀ  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

Dollar Broadly Stronger… Gold and Global Bonds Down

April 25, 2018

The Mexican peso extended its recent swoon, falling 1.0% against the dollar and moving past the 19 per USD threshold. U.S./Mexican relations appear headed for another dive, as Lopez Obrador, the former Mexico City mayor and a populist, retained a huge lead in presidential election polls. The election is just over two months away. It’s […] More

Hungarian National Bank

March 27, 2018

Monetary policy settings were not changed by Hungary’s monetary council. The Base Rate remains at at 0.90%, its level since a 15 basis point cut in May 2016. The overnight deposit rate stays at negative 0.15%, its level since a 10-basis point reduction last September. A loose policy is justified because inflation still lies at […] More

Central Bank of Hungary

February 27, 2018

At Magyar Nemzeti Bank, the Base Rate has been at 0.90% since a 15-basis point cut in May 2016, and the overnight deposit rate has been at minus 0.15% since a 10-basis point cut in September 2017. They will remain at those levels after the latest policy review by the Monetary Council. Although real economic […] More

Central Bank of Hungary

December 20, 2017

The central bank’s monetary council again kept the Hungarian base rate at 0.90%, its level since a 15-basis point reduction in May of last year. Inflation still hasn’t risen in a sustained manner to the central bank target, and officials do not expect that happening until the middle of 2019. The post-policy review statement asserts, […] More

National Bank of Hungary

October 24, 2017

Hungarian monetary policymakers left their base rate at 0.90% at the latest review. It’s been at that level since the last of 3 reductions in 2016, each by 15 basis points. The base rate had also been cut five times by 15 bps each during 2015 and is currently 610 basis points lower than in […] More

Magyar Nemzeti Bank

September 19, 2017

Hungary’s central bank Base Rate was retained at 0.90%, but the overnight deposit rate was lowered to negative 0.15% from -0.05%. A released statement declared, The inflation target is expected to be achieved in a sustainable manner one additional quarter later, i.e. by the middle of 2019, following a delay of half a year indicated […] More