Central Bank of Hungary
Another Hungarian Central Bank Interest Rate Cut
July 23, 2024
Consumer price inflation in Hungary crested at 25.7% in January 2023, well above the 2-4% target of its central bank (MNB). In response the MNB base rate was progressively raised from 0.60% to a peak of 13.0% reached in September 2022 and maintained until an initial reduction in October 2023. Every monthly meeting since that […] More
Most April Purchasing Manager Surveys Brighter Than Forecast
April 23, 2024
Net overnight movements in the dollar were marginal. Ten-year sovereign debt yields increased six basis points in the U.K., five basis points in Italy and by four basis points in the United States, Germany, France and Spain. Continuing disappointment at the Chinese government’s macroeconomic stimulus was reflected in an additional 0.7% drop in the Shanghai […] More
A Sixth Straight Monthly Central Bank Interest Rate Cut in Hungary
March 26, 2024
The Central Bank of Hungary’s base rate has been lowered at six straight monthly policy reviews, dropping by 225 basis points in the final quarter of 2023 and but 250 bps this quarter. The peak rate of 13.0% was maintained from September 2022 to October 2023. CPI inflation in Hungary peaked at 25.7% in January […] More
Full Percentage Point Cut in Hungary’s Central Bank Base Rate
February 27, 2024
A reduction in the Central Bank of Hungary’s Base Rate from 10.0% to 9.0% bring its decline since October to 400 basis points. This cumulative decline is slightly less than the concurrent lessening of core consumer price inflation from 10.9% to 6.1% and two percentage points less than the slowdown in total CPI inflation from […] More
Rate Cuts in Georgia and Hungary
December 20, 2023
The National Bank of Georgia‘s key interest rate was cut by 50 basis points to 9.5%. This was the fourth reduction since May, bringing the cumulative drop to 150 basis points. The peak rate of 11.0% had been maintained from March 2022 until May 2023. More reductions lie ahead. CPI inflation of merely 0.1% in […] More
Investors Watching U.S. Earnings Reports and Awaiting FOMC Meeting Results
January 26, 2021
There continued to be a lack of definitive market direction on Tuesday. A two-day policy review by the Federal Open Market begins today. In Congress, members of the House of Representatives delivered their impeachment edict to the senate, but a trial will not begin in earnest until February 9 in order to allow confirmation of […] More
Preliminary Purchasing Manager Readings for June Beating Expectations
June 23, 2020
PMI readings for Euroland, Germany, France, and Great Britain show a V-shaped pattern. Other themes of today include A further disturbing rise in the Covid-19 numbers. Global cases rose about 145,000 in the past 24 hours, 31k of which were reported in the United States. U.S. President Trump’s opinion poll approval ratings continue to erode. […] More
Decline Continues in Equity Markets
February 26, 2020
The dollar climbed overnight by 0.6% against sterling, 0.5% relative to the Australian dollar, 0.3% versus the yen and peso, 0.2% vis-a-vis the loonie, and 0.1% against the yuan. The dollar also extended its uptrend against several developing country currencies like the South African rand and South Korean won. Alternatively, the dollar dipped 0.2% against […] More
Partial Unwind of Monday’s Sharp Market Moves
January 28, 2020
Markets in China, Hong Kong and Taiwan remained closed on Tuesday. Stock exchanges in the Pacific Rim extended Monday’s losses with declines of 3.1% in South Korea, 1.8% in Singapore, 1.4% in Australia, and 1.1% in New Zealand. However, in European trading, Italian equities have jumped 1.6%, and there’s been a recovery so far of […] More
Hungarian Monetary Policy Stance Left Unchange
May 28, 2019
Magyar Nemzeti Bank’s base rate has been at 0.90% since a 15 basis point reduction three years ago. The overnight deposit rate was raised 10 basis points two months ago to minus 0.05% in a move that reversed a cut of 10 bps in September 2017. Monetary officials at the central bank remain satisfied that […] More
