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National Bank of Hungary Preview: Unchanged Pace of Tightening

2022. április 25.

ING THINK

Incoming data don’t sharply contradict the central bank's March forecast. We see a maintained pace of tightening, hiking the base rate and the 1-week deposit rate by 100bp and 30bp, respectively. Even with hawkish forward guidance, we don't envision a marked Hungarian forint strengthening, but we see room for higher market rates.

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