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The live press conference will be broadcast on the MNB’s YouTube channel starting at 3 p.m., with the participation of György Matolcsy, governor of the central bank, Csaba Kandras, Mihály Patai and Barnabás Virág, deputy governors of the central bank.
Before that, the Monetary Council will publish the results of today’s interest rate decision twice, followed by the announcement and the latest forecast for GDP and inflation. Experts interviewed by the Portfolio did not expect a specific decision by default, but the press conference suggests that the action may still come from the central bank. These might be:
- The expansion of the asset purchase program and the refinement of the FGS at Hair, although decided by the MNB in November, would surprise any change.
- Introduction of a new tool.
- The biggest surprise would be a reduction in interest rates (an increase in interest rates can be ruled out in the current situation). The MNB has stated several times in the past that it wants to keep short-term interest rates at a safe distance of zero percent, and in the recent period the one-week deposit rate has been the governing instrument, and a relaxation.
Of course, it is also conceivable that the MNB only wants to present the background to the recent macroeconomic forecast at today’s press conference, but it would be surprising if this required all central bank staff.
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