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Hungarian Forint Recovery Tied to Euro Entry Story: ING
The Hungarian forint's recovery is tied to the euro entry story, according to ING's Chris Turner, after the National Bank of Hungary cut its policy rate by 25 basis points to 5.50%, with Chief Economist Peter Virovacz seeing a terminal rate of 4.75%.
FXStreet·22hRead more ▾
MNB Rate Cut Offers Modest Forint Support, Commerzbank Says
Commerzbank reports that Hungary's central bank, the Magyar Nemzeti Bank, cut its base rate to 5.50% but avoided pre-committing to further easing, stressing that September's Inflation Report will guide policy. The bank will monitor global rate hikes, which could limit the scope of future cuts. This cautious stance offers modest support for the Hungarian forint.
Commerzbank·1dRead more ▾
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Hungarian Forint loses support against Euro amid external shocks and MNB easing
The Hungarian Forint has recently given back gains against the Euro as external shocks and an ongoing easing cycle by the Magyar Nemzeti Bank erode support, according to Commerzbank’s Tatha Ghose. The minutes of the central bank’s Monetary Policy Council meeting are seen as key for near-term direction.
Commerzbank·21dRead more ▾
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NBH cuts rates to 5.75% and signals further easing, shaping forint outlook
The National Bank of Hungary cut its key rate to 5.75% and confirmed dovish guidance, signaling further easing in August and possibly beyond. ING strategist Frantisek Taborsky reports that markets have accepted renewed rate-cut pricing, and ING expects more dovish repricing.
ING·35dRead more ▾
Societe Generale reassesses Hungarian Forint rally after rate cuts
Societe Generale strategists have reassessed the Hungarian Forint's rally against the Euro following the Magyar Nemzeti Bank's decision to cut its policy rate to 5.75% and signal further easing. They expect a terminal rate of 5.0% by year-end and note that EUR/HUF has already bottomed near 348.59.
Societe Generale·36dRead more ▾
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Forint longs face geopolitical test, ING says
ING’s Frantisek Taborsky reports that the National Bank of Poland kept a neutral stance, with elevated uncertainty from Middle East tensions and CPI projections above expectations. US–Iran headlines triggered a sell-off in CEE rates and FX, with EUR/HUF jumping 1.2%.
ING·48dRead more ▾
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Hungarian Forint rally meets fiscal concerns, says Societe Generale
The Hungarian forint has posted its strongest quarter since 2009, driven by a pro-EU shift and expectations of renewed access to EU funds, according to Societe Generale strategists. However, they caution that the EUR/HUF exchange rate is struggling to sustain breaks below the 350 level as fiscal risks emerge under Prime Minister Magyar.
Societe Generale·56dRead more ▾
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Subdued inflation lets Hungary's central bank turn more dovish, says Standard Chartered
Subdued inflation in Hungary, supported by a strong forint and government measures, has allowed the National Bank of Hungary to adopt a more dovish stance, according to Standard Chartered's Saabir Salad.
Standard Chartered·63dRead more ▾
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Societe Generale expects Hungarian central bank to cut rates to 6.0%
Societe Generale analysts expect the Hungarian central bank Magyar Nemzeti Bank to cut rates by 25 basis points to 6.0%, citing improved sentiment after Peter Magyar’s election victory and an EU-friendly policy stance.
Societe Generale·64dRead more ▾