National Bank of Hungary

30-Basis Point Hike in Hungary’s Central Bank Base Rate

June 22, 2021

Today’s rate hike at the National Bank of Hungary from 0.60% to 0.90% reverses a pair of 15-basis point reductions in June and July of 2020 and represents the first increase since a 50 basis point move to 7.0% in December 2011. The backdrop to today’s action is inflation (now 5.1%) that is above the […] More

Dollar Slips to Lowest Level Since First Week of 2021

May 25, 2021

Several Fed officials speaking yesterday reaffirmed commitment to current stance for some time longer. In response, the dollar fell 0.4% against the euro, 0.2% versus the Swiss franc, Australian dollar, Chinese yuan, Mexican peso, and its weighted index, and by 0.1% relative to the loonie and sterling. The dollar also firmed 0.1% against the Japanese […] More

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

Hungary Gets First Central Bank Interest Rate Hike in Since December 2011

March 26, 2019

The Monetary Council of Magyar Nemzeti Bank chose a time when many central banks including the Fed and ECB have turned more dovish to implement its first interest rate hike since a 50-basis point increase of the Base Rate way back in December 2011. That rate is now just 0.90% and was not changed at […] More

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