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Experts interviewed by Portfolio unanimously expected the interest rate to hold at Tuesday’s meeting, so the central bank’s decision was not a surprise. On the one hand, due to lower inflation and the strengthening of the forint, the tightening pressure has moderated in the last month and, on the other hand, the euro-forint exchange rate around 360 remains high, which is not allows for greater relaxation.
On Thursday, the MNB can still hit the effective interest rate on its regular one-week deposit offer if it changes the rate or doesn’t accept all offers. In December, a more exciting meeting may come, as a new inflation report will be prepared, and if the price increase rate does not resume and the forint remains stable, even interest rate cuts can be discussed at the end. of the year.
Cover image: Getty Images
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