EUR/HUF seen slightly above 390.00 at the end of the day – ING
|The National Bank of Hungary is scheduled to meet today. Economists at ING analyze Hungarian Forint (HUF) outlook ahead of the Interest Rate Decision.
Central bank speeding up rate cuts pace
We expect an acceleration in the pace of rate cuts from 75 bps to 100 bps, which would mean a cut to 9.00%.
We see EUR/HUF slightly above 390.00 at the end of the day. However, for both rates down and EUR/HUF up we see limited movement due to stretched market pricing and for the market this may be an interesting entry for rate payers at the front end of the curve or long HUF later after the decision.
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