The National Bank of Hungary hiked interest rates this week, becoming the first monetary authority in the European Union to start monetary tightening as it seeks to tame inflation in the aftermath of the COVID pandemic. The bank indicated it would continue to raise borrowing costs due to inflation risks. The Monetary Council of the […]
Hungary’s forint broke multi-month records against the euro in recent days, fueled by rate hike expectations and a promising economic growth outlook. The currency gained ground even as a steadying US dollar cut international risk appetite. As inflation in Hungary and other central European nations is above central banks’ target levels, investors are betting on […]
Hungary’s central bank indicated this week it was planning to raise interest rates amid widespread market expectations for policy makers to affirm rate-hike plan. The interest rate hike, needed to stem soaring inflation, would be the first in the European Union since the outbreak of the pandemic. The National Bank of Hungary said this week […]
The National Bank of Hungary left its monetary policy unchanged at this year’s last meeting of the Monetary Policy Council in a signal that rate-setters are applying caution in light of continued risks to global investor sentiment and a resurgence of the coronavirus pandemic. While a slowdown in inflation and a rally in the forint […]
The adversities caused by the coronavirus pandemic are engulfing new sectors of the economy and few are likely to escape unscathed. Experts warn that the Hungarian property market is also set to suffer in the coming quarters with many owners being forced to sell and buyers being few and far between. In recent years, many […]
The Hungarian currency has been on a weakening path for the past weeks and is trading dangerously close to its weakest ever against the euro, seen in April this year. In addition to unfavorable international sentiment, local supporting factors have also vanished and analysts argue that the forint may set new negative records in the […]
Hungary’s forint weakened to levels last seen in April as international currency market movements coupled with a record number in COVID-19 infections in Hungary put the forint under pressure. Could a weaker forint be here to stay in the longer run? The Hungarian forint fell to its weakest level since late April on Wednesday, moving […]
