Economists augur 30 bp rate rise at Aug policy meeting - Reuters poll

MNB

MNB headquarters in Budapest.

Most economists polled by Reuters expect the National Bank of Hungary (MNB) to raise its key rate by 30 bp to 1.5% at a policy meeting on Tuesday, according to a report by news agency MTI.

Reuters said on Wednesday that eleven of twelve analysts polled between August 16 and 18 predicted a 30 bp rate hike at the Tuesday meeting.

MNB's Monetary Council started a tightening cycle in June amid spiking consumer prices, raising the base rate by 30 bp, and again by 30 bp in July.

After the July meeting, the council said it "considers it justified to continue the cycle of interest rate hikes by taking firm steps on a monthly basis to ensure price stability, avoid second-round inflationary effects and to anchor inflation expectations".

The minutes from the meeting showed the rate-setters said the scale of the July hike "could be a guide regarding the August decision".

Number of Thefts in Capital Edges Higher in 2023 Figures

Number of Thefts in Capital Edges Higher in 2023

Magyar Drops Audio Suggesting Gov't Meddling in Corruption C... Government

Magyar Drops Audio Suggesting Gov't Meddling in Corruption C...

Wizz Air Using VR for Pilot Training Innovation

Wizz Air Using VR for Pilot Training

2024 Edition of Budapest Ritmo Approaching In Budapest

2024 Edition of Budapest Ritmo Approaching

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.