Hungary's currency, the forint, has faced a turbulent year, losing over 7% against the euro so far in 2024. Global financial uncertainty has turned investor attention to the country's economic vulnerabilities, forcing Hungary’s central bank to halt its monetary easing and maintain the EU’s highest borrowing cost, tied with Romania at 6.5%. The latest blow […]
In a move mirroring April's decision, the National Bank of Hungary once again trimmed key interest rates by 50 basis points this week. However, the monetary policy outlook beyond June remains clouded in uncertainty, with the central bank's cautious and patient approach suggesting a narrowing margin for further easing maneuvers. One more rate cut is […]
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 […]
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 […]
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 […]
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 […]
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 […]
The price of one euro (EUR) was 405 forints (HUF) by midday this Tuesday. The Hungarian forint started the week at HUF 392/EUR, and has been free-falling for the second day in a row, the business news site napi.hu writes. The forint weakened sharply on Tuesday after Monday's plunge. At the end of last week, […]
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 […]
Skyrocketing consumer prices, the looming energy crisis and the aggressive tightening of monetary conditions point in the direction of Hungary entering recession, according to economists. The country’s GDP growth will remain feeble next year as well. Hungary’s economy faces multiple risks of which some are triggered by international developments while others relate to domestic issues. […]
The Hungarian forint has been one of the weakest performing currencies worldwide amid an international selloff. Despite government reassurances that the fundamentals of the Hungarian economy are strong and sound, the forint remain under massive pressure. Diplomacy&Trade takes a look at the specific reasons behind the forint’s underperformance and how the currency’s weakness threatens the […]
The common European currency, the Euro crossed the HUF 409 mark on Tuesday afternoon, setting a new record. At the same time, the Euro also reached a new low against the US currency, which was at HUF 398 forints to the dollar at one point, the popular news site telex.hu reports. On June 13, the […]
The National Bank of Hungary delivered the biggest rate cut since 2008, surprising the markets with the size of the move. The monetary decision came after the forint weakened to levels never seen before. The Hungarian central bank raised the base interest rate by 185 basis points to 7.75% this week and policy makers aligned […]
The Hungarian currency, the Forint (HUF) fell to a historic low against the euro again on Monday: after 10 a.m., it suddenly started to weaken sharply from the morning level of around HUF 400, and shortly after a quarter to 11, it was HUF 403.85 to the euro. Minutes later, however, it crossed the HUF […]
"It's time to say that a strong forint, not a weak one, is in the national interest", writes investment expert Viktor Zsiday in a post published this week, commenting on the weakening of the Hungarian currency HUF) in recent weeks. He is quoted by the business news site napi.hu as saying that it should be […]
