As expected, the Monetary Council of the National Bank of Hungary (MNB) left its policy rate unchanged at its meeting this Tuesday. In the explanatory statement, the central bank stresses the importance of caution in view of deteriorating external developments. The press statement released after the meeting points out that MNB’s primary objective is to […]

Hungary's economy faces a challenging third quarter with zero growth expected and the forint at an 18-month low against the euro. This gloomy outlook could force the central bank to maintain current interest rates for an extended period. Deputy Governor Barnabás Virág of Hungary's central bank signaled a potential pause in interest-rate cuts at a […]

Hungary's external trade balance and its impact on the economy are regularly discussed by analysts, but it is mostly the trade balance in goods that is discussed. However, the other important component of the domestic external trade balance, the external trade balance in services, is also important to address in the shadow of the reindustrialization […]

The Hungarian forint has dropped to its lowest level in 18 months, driven by escalating tensions in the Middle East and recent rate cuts by the National Bank of Hungary (NBH), prompting investors to pull back. Despite these challenges, the central bank has reassured markets that it will maintain a "disciplined and tight" monetary policy […]

Hungary's gold reserves have increased from 94.5 tons to a record 110 tons, taking into account long-term national and economic strategic goals, the National Bank of Hungary (MNB) told MTI on Monday. The increase in the gold reserve was justified by the fact that the precious metal has appreciated due to global economic, geopolitical and […]

After taking only a brief pause, the National Bank of Hungary (NBH) returned to its monetary easing path in September, cutting its key interest rate once again. The bank's latest forward guidance suggests a steady outlook on future rates, further fueling market expectations for another rate cut before the year is out. Hungary's decision to […]

At its meeting this Tuesday, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided to cut the central bank's base rate by 25 basis points to 6.5%, lowering the two edges of the interest rate corridor by the same amount with effect from September 25, […]

The volume of industrial production declined in July 2024 by 1.3%, year-on-year, based on working-day adjusted data production dropped by 6.4%, the Central Statistical Office (KSH) reports. Compared to crude data, the significant difference is due to the fact that there were two more working-days in this month than in July 2023. Out of the […]

Investments are flowing into Hungary, and the country's economy is doing very well in EU comparison, the daily Magyar Nemzet wrote on Friday. According to the article, the state of the Hungarian economy is increasingly being discussed in public debates, and there are many opinions in the public domain, but instead of these, it is […]

Retail sales in Hungary continue to disappoint, offering little cause for optimism. Since April 2024, the sector has been stuck in stagnation, with recent data providing few signs of improvement. Despite some positive indicators, the figures remain well below expectations. According to the latest data from the Hungarian Central Statistical Office, June’s weak performance was […]

Hungary’s central bank has taken a breather after a streak of 15 consecutive rate cuts, opting to leave interest rates unchanged at its latest policy meeting. However, policymakers hinted that the pause may be temporary, with room for further "cautious" rate cuts in the near future. This week, the central bank held the benchmark interest […]

As the mercury rises, so do Hungary's property prices and rents. Budapest, the crown jewel of Hungarian real estate, continues to dazzle with average costs per square meter soaring above HUF one million (EUR 2,534). But it's not just the capital feeling the heat – the entire country is experiencing a property price surge that's […]

Hungary's inflation rate inched up in July, surpassing the top end of the central bank's target range and narrowing the room for the continuation of its more than yearlong monetary-easing cycle. After two months of stagnation in the monthly rate of price increases, the pace of one-month inflation shows the same dynamic as the one […]

Hungary’s economic growth bubble burst in the second quarterHungary’s economy contracted in the second quarter, keeping the country’s GDP on a zig-zagging course. Despite continued government optimism on the growth outlook, some analysts are lowering their GDP forecast for the year. In the run-up to the release of second-quarter GDP, forecasts for the performance of […]

Hungary's GDP was boosted the most by the construction sector and real estate transactions, as well as by the balance of product taxes and subsidies, according to a report by the country's Central Statistical Office (KSH). The Central Statistical Office said Hungary's gross domestic product grew by an annual 1.5% in the second quarter of […]