The press release accompanying today’s decision by the National Bank of Hungary to lower its policy interest rate by 15bp to 1.50% hinted that the easing cycle has a little further to run. We have revised our rate forecast and have pencilled in an additional 10bp cut, to 1.40%, at the next Council meeting. Taking a step back, though, the big picture is that inflation is likely to remain below target both this year and next, which should allow monetary policy to remain accommodative.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services