Central Bank of Hungary

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

Magyar Nemzeti Bank

December 20, 2016

Having cut Hungary’s key central bank interest rate by 45 basis points in March-May of this year to 0.90% and by 610 basis points since August 2012, monetary authorities shifted their focus from easing via progressive cuts in the interest rate to other monetary tools that promote the pass-through of a lower central bank rate […] More

Hungarian Central Bank Base Rate Kept at Record Low 1.35%

August 25, 2015

The statement released after the latest Monetary Council meeting implies that Hungary’s central bank base rate is unlikely to get changed, up or down, for an extended period.  Extensive easing began in August 2012 from a 7.0% level.  The base rate was lowered at every meeting through July 2014, at which point such stood at […] More

Hungary’s Magyar Nemzeti Bank Cuts Interest rate for 14th Straight Time

September 24, 2013

A statement from Hungarian monetary officials announced a 20-basis point cut of the two-week deposit rate to a record low of 3.60%.  A similar reduction had been made in August, and there was a streak of twelve monthly cuts of 25 basis points each starting in August 2012.  Core inflation in Hungary is historically low, […] More