FOREX TradingCharts.com

Financial News: Hungary CB Holds Rates Steady

Hungary CB Holds Rates Steady

10/24/2017 - 08:28:00 (RTTNews)

(RTTNews) - Hungary's central bank left its interest rates unchanged on Tuesday, after cutting the deposit rate deeper into the negative territory in September.

The Monetary Council of the Magyar Nemzeti Bank kept the base rate at 0.90 percent, in line with economists' expectations. The bank held the rate steady for a seventeenth month in a row.

The central bank had cut the key rate by 15 basis points in March last year, which was the first reduction in eight months. Similar size cuts were repeated in April and May last year.

The overnight central bank deposit rate kept at -0.15 percent this month, after its was lowered by 10 basis points in September. The rate was cut to negative last year.

The lending rate was kept unchanged at 0.90 percent.

"The post-meeting press release is certain to remain very dovish, but we're increasingly concerned that policy will be kept too loose for too long," Capital Economics economist Liam Carson said.

"In our view, it's hard to square this stance with the underlying macroeconomic environment," the economist said.

Capacity constraints and wage growth are rising. Core inflation at a three-and-a-half year high of 2.9 percent is just a tad below the bank's 3 percent inflation target, Carson noted.

"We think inflation has further to rise and will breach the National Bank's target next year," the economist said.

"Rising inflation will force the MPC to reverse course next year, there's a growing chance that policy remains too loose, resulting in a nastier inflation shock - and more aggressive rate hikes - further down the line."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


France Unemployment Rises Slightly In October (11 min(s), 17 sec(s) ago)
(RTTNews) - French unemployment increased slightly in October, data from the Labour Ministry revea ...Full Story»

Cash Remains Preferred Payment Option In Eurozone: ECB Study (54 min(s), 43 sec(s) ago)
(RTTNews) - Euro zone consumers still prefer cash to other options for paying for their purchases, ...Full Story»

ECB's Coeure Warns Against Fake Data (36 min(s), 43 sec(s) ago)
(RTTNews) - Fake statistics are equally threatening to the euro area economy as fake news is to po ...Full Story»

Eurozone Economy Set To Extend Surprisingly Positive Run In 2018 (25 min(s), 43 sec(s) ago)
(RTTNews) - As the outlook for consumption is improving, the Eurozone economy is on its way to ext ...Full Story»

Swiss Industrial Production Expands In Q3 (45 min(s), 43 sec(s) ago)
(RTTNews) - Switzerland's industrial production and turnover increased notably in the third qu ...Full Story»

UK Mortgage Approvals At 13-Month Low (36 min(s), 43 sec(s) ago)
(RTTNews) - UK mortgage approvals declined to a 13-month low in October, data from UK Finance show ...Full Story»

German Business Confidence At Record High (37 min(s), 43 sec(s) ago)
(RTTNews) - Germany's business confidence strengthened to a new record in November on optimist ...Full Story»

Turkey Capacity Utilization Rises; Business Confidence Weakens (12 min(s), 43 sec(s) ago)
(RTTNews) - Turkey's capacity utilization rate increased for the fourth straight month in Nove ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

France Unemployment Rises Slightly In October

11/25/2017 - 00:25 AM (RTTNews)
(RTTNews) - French unemployment increased slightly in October, data from the Labour Ministry revea ...Full Story>>

Cash Remains Preferred Payment Option In Eurozone: ECB Study

11/24/2017 - 09:31 AM (RTTNews)
(RTTNews) - Euro zone consumers still prefer cash to other options for paying for their purchases, ...Full Story>>

ECB's Coeure Warns Against Fake Data

11/24/2017 - 09:13 AM (RTTNews)
(RTTNews) - Fake statistics are equally threatening to the euro area economy as fake news is to po ...Full Story>>

Eurozone Economy Set To Extend Surprisingly Positive Run In 2018

11/24/2017 - 09:02 AM (RTTNews)
(RTTNews) - As the outlook for consumption is improving, the Eurozone economy is on its way to ext ...Full Story>>

Swiss Industrial Production Expands In Q3

11/24/2017 - 07:22 AM (RTTNews)
(RTTNews) - Switzerland's industrial production and turnover increased notably in the third qu ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.