The Central Bank Has Stepped up: They Are Lowering the Inflation Target
13 Articles
13 Articles
The decision has been made: this will now be the base interest rate.
The two are related, according to MNB President Mihály Varga, who said the 5.5 percent base rate supports achieving the inflation target.
The MNB began reducing the base rate in June, and then reduced it further on two occasions.
On Tuesday, the Monetary Council of the Hungarian National Bank (MNB) left the base rate at 5.5%, so the central bank is waiting for the time being after the summer “mini interest rate cut cycle.” However, we have not yet received answers to the most important questions, but the MNB's latest forecast may be revealed soon, and they may even announce a reduction in the inflation target.
At the same time, Mihály Varga and his colleagues left the base rate unchanged.
The MNB has set a new inflation target: the medium-term target is 2.5 percent from January 1, 2028.
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