Magyar Nemzeti Bank

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

Central Bank of Hungary

August 22, 2017

Hungary’s key central bank interest rate was slashed from 7.0% some five years ago to 0.90% after a 15-basis point reduction on May 24, 2016. That was its last change. However, other rates like the overnight lending and deposit rates were reduced further subsequently — and are now at 0.90% and -0.05%. Other unconventional monetary […] More

Central Bank of Hungary

May 24, 2017

The policy interest rate of Magyar Nemzeti Bank has been just 0.90% since a trio of cuts in March, April and May of 2016. A statement of the latest review defends the appropriateness of continuing that level and warns that “if inflation remains persistently below the target, the Council will stand ready to ease monetary […] More

Central Bank of Hungary

April 25, 2017

At this month’s meeting of Hungary’s Monetary Council, officials left interest rates including the 0.90% Base Rate unchanged as expected. The rate was slashed from 7.0% prior to August 2012┬áto 2.1% over the ensuing two years, reduced by a further 75 basis points in March-July of 2015 and again by 45 basis points in three […] More