The Hungarian central bank (MNB) cut interest rates by 25bp again today, to 6.75%, and the post-meeting press conference suggests that, while there are some MPC members who want to pause the easing cycle, the balance is a bit more dovish than we had previously thought. We now think the base rate will end 2024 at 6.25% (our previous forecast was 6.50%).
This publication has been updated with additional analysis since the post-meeting press statement and press conference.
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