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Central Bank

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Hungarian Central Bank Head Warns of Autonomy Under Threat

D&T
Mar 1, 2024

György Matolcsy, the Governor of the National Bank of Hungary, has vehemently criticized the government's latest proposal, which he perceives as a direct assault on the institution's independence. This latest clash deepens the rift between Prime Minister Viktor Orbán’s administration and the country’s chief banker. During an event at the Budapest Stock Exchange, Matolcsy articulated […]

Central Bank Governor's Harsh Critique of Government Policies Deepens Divide

D&T
Sep 22, 2023

National Bank of Hungary President György Matolcsy's recent scathing criticism of the government's economic policies has further revealed the growing rift between monetary authorities and the ruling administration. In a candid and sharp-tongued address delivered at a conference this week, Matolcsy accused the government of pursuing a reckless economic strategy that has led to a […]

Hungary Navigates Monetary Easing Amidst Shifting Economic Tides

D&T
Sep 1, 2023

The Hungarian financial landscape witnessed yet another step in the ongoing monetary easing cycle as the nation's central bank announced a significant rate cut in August. With the ebbing pace of inflation creating room for further rate reductions, all eyes are now on the impending merger of the effective and base rates, set to occur […]

Forint Extends Slide, Hit by Hungary’s Budget Woes and Rate Cuts

D&T
Jul 7, 2023

The forint hit a losing streak this week, weakening to a two-month low against the euro, as investors got jittery over Hungary’s deteriorating finances and the central bank’s loosening monetary policy. Further interest rate cuts may add fuel to the fire, analysts warned. The Hungarian currency’s losses accelerated against the euro this week as markets […]

Hungary Monetary Easing Still a Long Way Off

D&T
Feb 24, 2023

Hungary’s interest rates are the highest in the European Union. Even though market sentiment is improving, as evidenced by the rapid appreciation of the Hungarian currency, the central bank is expected to keep rates unchanged for a long time to ensure that fundamentals are solid enough for monetary easing to commence. The National Bank of […]

Forint Stages Spectacular Recovery from Last Year’s Weakness

D&T
Jan 20, 2023

The forint marched to considerably stronger levels against both the EUR and USD this year after being in a freefall in 2022. Experts believe the Hungarian currency has by now reached key technical levels and further significant strengthening may not be in the cards. The Hungarian currency has staged a spectacular comeback in recent weeks […]

Hungary’s Chief Banker Warns of  “Near-Critical”  Economic Situation

D&T
Dec 9, 2022

Hungary is teetering on the brink of an economic “crisis” and it is one of the “most economically vulnerable” countries in the world, the central bank governor warned. Adopting an unusually critical tone, György Matolcsy blasted the policy mistakes committed by the government of Prime Minister Viktor Orbán in handling the crisis. The Governor of […]

Hungarian Inflation the Highest in the EU

D&T
Nov 4, 2022

It is increasingly apparent that Hungary’s inflation is the steepest in the European Union. Although the official inflation indicators of the Baltic countries are higher than those of Hungary, EU data from the summer show that the core inflation indicator, which contains much less distorting effects, is the worst in Hungary. The inflationary pressure intensified […]

Forint in free fall may force Hungary to hike rates, join euro waiting room

D&T
Oct 14, 2022

The continued plunge in Hungary’s national currency is forcing the country’s decision makers to revisit earlier policy measures as the weakening forint wreaks havoc in the economy. The central bank may be forced to resume its tightening cycle while the government has indicated it could bring forward the nation’s erm-2 accession, the waiting room of […]

EU’s highest interest rate in Hungary set to rise further

D&T
Sep 2, 2022

The National Bank of Hungary raised borrowing costs to an 18-year high this week, taking the European Union’s highest interest rate to 11.75%. Policy makers vowed to tighten monetary conditions further, in contrast with other central banks in the region. The Monetary Policy Council of the National Bank of Hungary delivered yet another massive interest […]

What awaits Hungary’s rollercoaster currency?

D&T
Aug 26, 2022

Hungary’s currency, the forint, has brokern numerous negative records against the euro and the dollar in recent weeks. The trend in currency markets is similar across Central and Eastern Europe (CEE) due to the war in Ukraine and the related sanctions, the forint has staged the steepest fall in the region. What could put a […]

Hungarian Inflation Soars, Could Peak at Higher Level than Seen Earlier

D&T
Aug 12, 2022

Hungarian consumer prices rose the most since 1998 on the back of soaring food costs. Analysts believe that inflation may exceed 20% as energy subsidies fade the war in Ukraine continues unabated. Hungarian inflation accelerated at the fastest pace in almost a quarter century in July, taking a heavy toll on household’s purchasing power and […]

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