The National Bank of Hungary held its benchmark rate at 6.25% in March 2026, as expected. The decision comes at the last policy meeting before April elections as market turmoil has left Hungary's assets among the most exposed globally. Policymakers cut rates last month after holding steady for nearly 18 months. Despite inflation falling below the central bank's target in February, upheaval in global energy markets from the Iran conflict has shifted rate expectations, with money markets pricing monetary tightening ahead. Traders are pricing potential hikes as landlocked Hungary faces an oil flow outage from Russia just as the Middle East crisis hits global supplies. source: National Bank of Hungary

The benchmark interest rate in Hungary was last recorded at 6.25 percent. Interest Rate in Hungary averaged 10.57 percent from 1987 until 2026, reaching an all time high of 28.00 percent in January of 1995 and a record low of 0.60 percent in July of 2020. This page provides the latest reported value for - Hungary Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hungary Base Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2026.

The benchmark interest rate in Hungary was last recorded at 6.25 percent. Interest Rate in Hungary is expected to be 6.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary Base Rate is projected to trend around 4.50 percent in 2027 and 4.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-27 01:00 PM Interest Rate Decision 6.5% 6.5% 6.5% 6.5%
2026-02-24 01:00 PM Interest Rate Decision 6.25% 6.5% 6.25% 6.25%
2026-03-24 01:00 PM Interest Rate Decision 6.25% 6.25% 6.25% 6.25%
2026-04-28 12:00 PM Interest Rate Decision
2026-05-26 12:00 PM Interest Rate Decision
2026-06-23 12:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Cash Reserve Ratio 6.00 8.00 percent Mar 2026
Central Bank Balance Sheet 29359.54 28616.59 HUF Billion Feb 2026
Deposit Interest Rate 5.25 5.25 percent Mar 2026
Foreign Exchange Reserves 59862.00 56777.50 EUR Million Feb 2026
Interbank Rate 6.44 6.44 percent Apr 2026
Interest Rate 6.25 6.25 percent Mar 2026
Interest Rate 6.25 6.25 percent Mar 2026
Loans to Private Sector 13569.20 13683.30 HUF Billion Feb 2026
Money Supply M0 18637.90 18057.70 HUF Billion Feb 2026
Money Supply M1 36377.40 35623.10 HUF Billion Feb 2026
Money Supply M2 47462.80 46384.70 HUF Billion Feb 2026
Money Supply M3 50432.10 49127.20 HUF Billion Feb 2026


Hungary Base Rate
In Hungary, interest rates decisions are taken by the Monetary Council of the Hungarian National Bank (Magyar Nemzeti Bank). The main interest rate is the base rate.
Actual Previous Highest Lowest Dates Unit Frequency
6.25 6.25 28.00 0.60 1987 - 2026 percent Daily
NSA

News Stream
Hungary's Central Bank Holds Rates
The National Bank of Hungary held its benchmark rate at 6.25% in March 2026, as expected. The decision comes at the last policy meeting before April elections as market turmoil has left Hungary's assets among the most exposed globally. Policymakers cut rates last month after holding steady for nearly 18 months. Despite inflation falling below the central bank's target in February, upheaval in global energy markets from the Iran conflict has shifted rate expectations, with money markets pricing monetary tightening ahead. Traders are pricing potential hikes as landlocked Hungary faces an oil flow outage from Russia just as the Middle East crisis hits global supplies.
2026-03-24
Hungary Cuts Key Interest Rate as Inflation Falls
The National Bank of Hungary cut its benchmark interest rate by 25 basis points to 6.25% at its February 2026 meeting, as markets expected, marking its first rate cut in nearly 18 months. Annual headline inflation fell to 2.1% from 3.3% the prior month, dipping below the central bank’s 3% target for the first time in five years. Services inflation, which Governor Mihaly Varga has called “decisive” for monetary easing, eased to 5%. Investors will now watch for signals on whether this cut signals the start of a broader easing cycle.
2026-02-24
Hungary Holds Rate Unchanged at 6.5%
The National Bank of Hungary kept its key interest rate at 6.5% in its January 2026 meeting, as expected by markets, to maintain the cutting cycle that ended in September of 2024. The unchanged monetary policy setting was despite its guidance change in the previous meeting, which dropped the rhetoric of ruling out rate cuts to signaling it will make decisions on a meeting-by-meeting basis. The latest data showed that inflation slowed to a 14-month low of 3.3% in December, close to the mid-point of the NBU's target range of 3%. Still, services inflation in the period soared to 6.8%, paring the outlook of imminent cuts for the central bank.
2026-01-27