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| The Hungarian Central Bank did not change its key interest rates |
| Budapest, 25.01.2023 |
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| The National Bank of Hungary held its base rate unchanged at 13% for the fourth consecutive decision in its January 2023 meeting in line with market expectations and previous signals. Currently, the instrument to combat soaring inflation and the weak forint is the one-day deposit facility with an interest rate of 18% that was extraordinarily created in October, also unchanged in the meeting, effectively replacing the base rate.The facility was created as the weakening local currency and high energy prices drove Hungarian Prime Minister Viktor Orban to pressure the central bank to enact emergency measures, also leading the NBH to hike its overnight collateralized lending rate by 950 basis points to 25% in October. The annual inflation rate in Hungary rose to 24.5% in December of 2022, the highest in over 26 years. On the other hand, the forint is up by 20% since the creation of the new deposit tool in October. source: National Bank of Hungaryodkaz na stránku |
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
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