Magyar Nemzeti Bank
Hungarian National Bank
September 20, 2016
The Base Rate of Magyar Nemzeti Bank was left unchanged as expected at September’s monetary council meeting. It’s been 0.90% since three consecutive monthly reductions in March-through-May of 15 basis points. Earlier it was cut incrementally from 7.0% starting in August 2012 to 2.1% by July 2014 and additionally by 15 bps each in March-through-July […] More
Magyar Nemzeti Keeps Loose Stance but Doesn’t Augment Such
August 23, 2016
Hungary’s Base Rate has been 0.90% since three consecutive reductions of 15 basis points earlier this year in March, April and May. From August 2012 to July 2014 the rate had been slashed to 2.1% from 7.0%, and its was redued by a further 75 basis points between March and July of 2015. Today’s statement […] More
No Change Made to Hungary’s Central Bank Base Rate
July 26, 2016
Officials at Magyar Nemzeti Bank have used the opportunity of persistent, extensive unused capacity and a lack of pricing pressure to loosen monetary progressively. Their main interest rate was reduced 490 basis points to 2.1% during the two years ending July 2014. Five additional 15-basis point cuts were done last year at successive meetings from March through […] More
Hungarian Interest Rates Left Unchanged
June 21, 2016
Hungary’s Base Rate was lowered 490 basis points to 2.1% between August 2012 and July 2014, 65 basis points further to 1.35% between March and July of 2015, and by 15 basis points a month to 0.90% in March, April and May of this year. A statement released after this month’s decision to leave that […] More
Magyar Nemzeti Bank
May 24, 2016
Hungary’s Base Rate was cut to 0.90% from 1.05% in a third consecutive reduction of 15 basis points. The overnight lending rate also got sliced by 15 basis points, while the overnight deposit rate was retained at -0.05%. More important, a statement from Hungary’s Monetary Council signaled an end to the latest string of base […] More
Another 15-Basis Point Central Bank Rate Cut in Hungary
April 26, 2016
Magyar Nemzeti Bank cut its base rate to 1.05% from 1.20%. The rate had been frozen at 1.35% from July 2015 until last month’s meeting when a similar-sized rate cut was implemented in conjunction with a significant downwardly revised inflation projection. A statement released today concludes that “the sustainable achievement of the inflation target points […] More
Magyar Nemzeti Bank Cuts Hungary’s Central Bank Interest Rates
March 23, 2016
The Bank Rate had been cut by 490 basis points between August 2012 and July 2014 to 2.10% and by an additional 75 basis points in 15-bp increments from March 2015 through July 2015 but paused at 1.35% thereafter until now. Easing was resumed at this month’s meeting of the Monetary Council, and the amount […] More
Hungarian National Bank
February 23, 2016
The central bank monetary council agreed again to leave Hungary’s base rate at 1.35% but left the door open to possible further easing of an already accommodative stance. In any case, there will not be any tightening in the forecast policy horizon since expected inflation is at an historic low according to a released statement. […] More
Magyar Nemzeti Bank
January 26, 2016
Hungary’s base rate was left at 1.35% as expected after the first monetary council meeting of 2016. This level represents a record low. From March through July of last year, it was cut 15 basis points each monthly meeting and dropped to 1.35% from 2.10% as a result. Today’s statement talks of slower growth, a […] More
Magyar Nemzeti Bank
December 15, 2015
The Hungarian base rate was left at 1.35%, its level since the last of five 15-basis point cuts engineered at consecutive meetings between March and July of this year. A released statement observes continuing spare capacity, inflation that remains substantially below the 3% target, historically low expected inflation and weaker-than-desired growth, and officials predict that […] More
