National Bank of Hungary
Bottom-Fishing and Lots of Data
August 30, 2022
Share prices in the Pacific Rim rebounded 2.7% in India, 1.2% in New Zealand, 1.1% in Japan, and 1.0% in South Korea. The German Dax, Paris Cac and Milan exchange currently show gains so far today of 1.4%, 0.6% and o.9%, but U.S. share prices are pretty listless, suggesting that a market bottom has not […] More
An Historic Day for the Euro and Not in a Good Way
July 12, 2022
The common European currency has been around since the start of 1999. At launch, the euro exchanged for $1.1875. In overnight trading it briefly touched dollar parity, that is a value of $1.0000. Amid uncertainty that the newly created European hybrid currency would long survive, the euro initially embarked on a downward trend, falling below […] More
Full Percentage Point Hike of National Bank of Hungary’s Base Rate Exceeds Expectations
March 22, 2022
According to a statement released today by Hungary’s Monetary Policy Council, The outbreak of the Russia-Ukraine war has led to a further increase in upside risks to inflation: continued rises in commodity and energy prices point to a persistently high external inflation environment. In addition, elevated inflation may persist for longer as a domestic inflationary […] More
Magyar Nemzeti Bank Tightens Hungarian Monetary Policy Stance Further
February 22, 2022
Hungary’s central bank policy interest rate has been raised by another half percentage point to 3.4%, matching the increase done in January. From a base of 0.60% through May 2021, the rate was raised in each of the final seven months of last year by a combined 180 basis points. CPI inflation accelerated from 2.2% […] More
Markets Unsure How to React after Putin Sends Troops into Breakaway Regions of Eastern Ukraine
February 22, 2022
Investors don’t know if Putin’s move is the opening round of a full-scale invasion. Putin’s provocation has elicited push-back from Western allies, who aren’t waiting for the Russian leader to expose all his cards. Germany has halted work on the Nord Stream 2 oil pipeline. U.S. President Biden is tightening economic sanctions against Russia. Equities […] More
50-Basis Point Central Bank Rate Hike in Hungary Beats Forecasts
January 25, 2022
The National Bank of Hungary unexpectedly stepped up its pace of interest rate normalization this month, lifting the base rate by a half percentage point to 2.9%, a 97-month high. This was the eighth consecutive monthly increase. From a starting base rate level of 0.6%, there had previously been two increases of 15 basis points […] More
Equities Trying to Rebound and Dollar Slips a Bit Ahead of Wednesday’s FOMC Announcement
September 21, 2021
The dollar is down 0.15% against the DXY weighted index. Dollar/yen is unchanged from Monday’s closing level, and the greenback lost 0.1% overnight against the euro and sterling and 0.4% relative to the loonie and Swiss franc. U.S. stocks had suffered their steepest daily loss on Monday since May, and share prices in other markets […] More
A Third Central Bank Interest Rate Hike in Hungary
August 24, 2021
As was expected, the National Bank of Hungary’s base rate was lifted another 30 basis points at this month’s review of monetary policy. Such follows similar hikes made in June and July and brings the rate level to 0.90%, its highest level since mid-2015. In 2020, two cuts of 15 basis points each had been […] More
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
