MNB Rate Cut Offers Modest Forint Support, Commerzbank Says

Commerzbank··HU·Read original
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Summary · why it matters

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.

Impact on assets 2

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％ECB rates
ECBRATES
▼ NegativeMonetaryrelevance

MNB rate cut to 5.50% signals easing, likely to lower Hungarian yields, but ECB rates are not directly affected; context only.