empty
 
 

2018.08.2108:16:00UTC+00Hungary Maintains Benchmark Interest Rates

Hungary's central bank maintained its benchmark interest rates on Tuesday, in line with economists' expectations.

The Monetary Council of the Magyar Nemzeti Bank decided to keep the base rate at 0.90 percent. The previous change in the rate was a 15 basis points reduction in May 2016.

The overnight central bank deposit rate was retained at -0.15 percent, after it was trimmed by 10 basis points last September. The rate was slashed to negative in 2016.

The one-week collateralized loan rate was kept unchanged at 0.90 percent.

Liam Carson, an economist at Capital Economics, said the central bank is likely to begin tightening monetary conditions before the end of this year.

As inflation remains above the 3 percent target and wage growth continues to outstrip productivity growth, the economist expects to see more hints that the MPC will rein in ultra-loose monetary policy at September's meeting, when the Bank is set to release a fresh set of economic forecasts.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback