Hungary: No fireworks expected from MNB today – Nomura

Sandeep Kanihama FXStreet Contributor

Analysts at Nomura suggest that after the Magyar Nemzeti Bank (MNB) monetary policy council set out a roadmap for policy normalisation in September, Nomura expect the October meeting to bring little new to the picture.

Key Quotes

“Higher-than-expected inflation last month will likely add to the council’s cautious stance. Nonetheless, core inflation was stable at 2.4% y-o-y, safely below the MNB’s 3% target. As we expect a significant pick-up in domestically driven price pressures in early 2019, we continue to expect a gradual tightening process to begin in March next year.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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