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No more easing in Hungary, but… - BBH

FXStreet (Edinburgh) - The research team at BBH has assessed the recent measures taken by the Hungarian central bank (NBH).

Key Quotes

“The Hungarian central bank shifted the policy rate from the 2-week deposit rate to the 3-month deposit rate while keeping both steady at 1.35%”.

“It later cut the overnight deposit rate by 25 bp to 0.1% in order to push more money into government bonds”.

“Moreover, it warned that rates would likely stay low for “a longer horizon than expected.”

“Back in July, central bank President Matolcsy promised to keep rates low for a “very long” time. The technical measures taken this week have fed into the notion that policymakers will have to eventually do more easing, and we would not rule out more easing in the coming months”.

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