“In the uncertain economic environment, Europe must pursue a cautious macroeconomic policy, while at the same time strengthening its competitiveness by fostering innovation,” National Bank of Hungary (MNB) Governor Mihály Varga stated at the IMF’s annual meeting, MNB says on its website. He underlined that Hungary’s economic outlook had improved significantly in the recent period, […]
Hungary's annualized consumer price index (CPI)rose to 1.6% in September from 1.3% in the previous month. The figure was a pleasant surprise for analysts who had expected 1.8%. In the inflation data, the rise in fuel prices was offset by a further decline in food prices – rather than the expected increase – and a […]
International reserves of the National Bank of Hungary (MNB) stood at EUR 62.061 billion at the end of September, down EUR 1.441 billion from a month earlier, data released by the central bank on Wednesday show. Stock of cash, deposits and securities in the reserves slipped EUR 270 million to EUR 45.524 billion, while stock […]
National Bank of Hungary (MNB) vice president responsible for monetary policy, financial stability, and foreign exchange reserve management, Zoltán Kurali told the Reuters news agency that the Tisza government’s promise to meet the conditions for adopting the euro by 2030 means that Hungary could join the exchange rate mechanism (ERM-2), the euro’s “waiting room” by […]
At its September meeting, the Monetary Council of the National Bank of Hungary (MNB) left the base rate unchanged at 5.50%, marking the first time it has kept the benchmark rate steady following the interest rate cuts over the summer. The central bank announced that, effective January 1, 2028, it will lower its inflation target […]
Last year, nearly three billion electronic payment transactions were carried out in Hungary, up from 2.5 billion the previous year, while the proportion of users of electronic payment solutions and businesses accepting such transactions is also steadily rising. That is according to Miklós Luspay, Director of the Financial Infrastructures and Payment Systems Directorate at the […]
“Euro adoption must be carried out in such a way that it yields more benefits than risks for Hungary’s economy,” according to National Bank of Hungary (MNB) Governor Mihály Varga, speaking at the 64th Itinerant Congress of Economists this week. He underlined that it was necessary to adopt the euro in a manner that would […]
First-half after-tax profit of Hungarian banks slipped 22% year-on-year to HUF 685 billion, data released by the National Bank of Hungary (MNB) on Monday show. Lenders' net interest income increased 7% to HUF 1,836 billion. Net revenue from commissions and fees edged down 3% to HUF 929 billion. Banks' return on equity reached 11.8%, falling […]
The number of voluntary pension fund members reached 1,088,800 in the second quarter of this year, inching up 1% from a year earlier, data released by the National Bank of Hungary (MNB) show. Voluntary pension funds closed the last four quarters with an increase of 12,500 members, meaning that the persistent negative trend of previous […]
The Monetary Council of the National Bank of Hungary (MNB) decided to cut the central bank base rate by 25 basis points to 5.50% at a monthly policy meeting on Tuesday. The Council also lowered the central bank's symmetric interest rate corridor by 25 basis points, bringing the O/N deposit rate to 4.50% and the […]
Hungary's state debt relative to GDP reached 75.1% at the end of the second quarter, preliminary data released by the National Bank of Hungary (MNB) show. The state debt ratio rose from 74.6% at the end of 2025. In absolute terms, Hungary's state debt stood at HUF 67,815 billion at the end of Q2, up […]
The average and end-of-month stocks of external assets increased in July, the National Bank of Hungary (MNB) reports. The increase was primarily the result of the EUR-denominated government bond issuance by the Government Debt Management Agency, changes in the forint exchange rate, and the decrease in the stock of swaps providing euro liquidity concluded with […]
Given current global economic trends, the annual inflation rate of less than 2% set by the central bank in June remains realistic, said Péter Benő Banai, vice president of the National Bank of Hungary (MNB), in the latest episode of the MNB Podcast. According to a press release issued by the MNB on Sunday, Péter […]
The Monetary Council of the National Bank of Hungary (MNB) decided to cut the central bank base rate by 25 basis points to 5.75% at a monthly policy meeting on Tuesday. The Council also lowered the central bank's symmetric interest rate corridor by 25 basis points, bringing the O/N deposit rate to 4.75% and the […]
In May, the current account balance closed with a surplus of EUR 81 million, compared with a deficit of EUR 201 million in April, according to preliminary data released Tuesday by the National Bank of Hungary (MNB). The current account closed the first quarter with a surplus of EUR 251 million, compared with a surplus […]
