NBH to hold rates at 1.35% tomorrow – BBH

FXStreet (Edinburgh) - Analysts at BBH see the Hungarian central bank ‘on hold’ at its monetary policy meeting tomorrow.

Key Quotes

“Hungary central bank meets Tuesday and is expected to keep rates steady at 1.35%”.

“However, the bank has been getting more dovish. The bank recently moved the horizon for steady rates out to the end of 2017”.

“Central bank Vice President Nagy later said it could hold rates steady into 2019”.

“He then said earlier this week that the bank will ease policy further with “non-conventional” tools rather than rate cuts”.

“Deflation risks continue, even with CPI coming in at +0.1% y/y in October vs. -0.4% y/y in September”.

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