After three reductions in a row, the National Bank of Hungary left borrowing costs unchanged at 5.5% on Tuesday. Governor Mihaly Varga is set to brief reporters at 3 p.m. in Budapest, alongside a statement and new projections for inflation and economic growth. Traders had already penciled in a pause given global crosswinds, including pricier oil tied to the US-Iran war and continued tightening by the Federal Reserve and the European Central Bank . The forint scarcely moved and remained at a two-week high versus the euro . Investors are zeroing in on whether the bank will lower its 3% inflation objective, which has a 1 percentage point tolerance band on either side and is the highest in the EU.
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