The National Bank of Hungary lowered its base rate by 25bps to 5.5% after its August 2026 meeting, as expected by markets, to mark a fourth rate cut this year. The further reduction in interest rates was aligned with the soft inflationary backdrop in the Hungarian economy. The headline rate fell to 1.2% in July and the core inflation rate eased to 1.9%, despite the recent increase in most of Hungary's trading partners following the outbreak of war in the Middle East. In turn, the forint remained at stronger levels than the average since 2022, holding the increases since Magyar was elected Prime Minister, consolidating the leeway for the NBU to attend to the economy. source: National Bank of Hungary

The benchmark interest rate in Hungary was last recorded at 5.50 percent. Interest Rate in Hungary averaged 10.53 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 August of 2026.

The benchmark interest rate in Hungary was last recorded at 5.50 percent. Interest Rate in Hungary is expected to be 5.00 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 4.00 percent in 2027 and 3.50 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-06-23 12:00 PM Interest Rate Decision 6% 6.25% 6% 6%
2026-07-21 12:00 PM Interest Rate Decision 5.75% 6% 5.75% 5.75%
2026-08-25 12:00 PM Interest Rate Decision 5.5% 5.75% 5.5% 5.5%
2026-09-22 12:00 PM Interest Rate Decision 5.5% 5%
2026-10-20 12:00 PM Interest Rate Decision
2026-11-17 01:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Cash Reserve Ratio 6.00 6.00 percent Jul 2026
Central Bank Balance Sheet 29734.83 27927.35 HUF Billion Jul 2026
Deposit Interest Rate 4.50 4.75 percent Aug 2026
Foreign Exchange Reserves 64306.10 60318.10 EUR Million Jul 2026
Interbank Rate 5.52 5.54 percent Aug 2026
Interest Rate 5.50 5.75 percent Aug 2026
Interest Rate 5.50 5.75 percent Aug 2026
Loans to Private Sector 13697.70 13504.10 HUF Billion Jun 2026
Money Supply M0 17053.00 17723.30 HUF Billion Jul 2026
Money Supply M1 37102.10 36660.10 HUF Billion Jun 2026
Money Supply M2 48029.30 47469.00 HUF Billion Jun 2026
Money Supply M3 50858.70 50373.60 HUF Billion Jun 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
5.50 5.75 28.00 0.60 1987 - 2026 percent Daily
NSA

News Stream
Hungary Cuts Rate as Expected
The National Bank of Hungary lowered its base rate by 25bps to 5.5% after its August 2026 meeting, as expected by markets, to mark a fourth rate cut this year. The further reduction in interest rates was aligned with the soft inflationary backdrop in the Hungarian economy. The headline rate fell to 1.2% in July and the core inflation rate eased to 1.9%, despite the recent increase in most of Hungary's trading partners following the outbreak of war in the Middle East. In turn, the forint remained at stronger levels than the average since 2022, holding the increases since Magyar was elected Prime Minister, consolidating the leeway for the NBU to attend to the economy.
2026-08-25
Hungary Cuts Rate as Expected
The National Bank of Hungary lowered its base rate by 25 basis points to 5.75% at its July 2026 meeting, in line with market expectations and extending its easing cycle. The decision came as annual inflation eased to 1.7% in June from 1.8% in May, remaining below the central bank's 2%-4% target range for a second consecutive month, providing room for further monetary easing. Governor Mihály Varga indicated that one additional rate cut could be delivered over the summer before the central bank reassesses the outlook alongside updated macroeconomic projections in September. However, the forint has weakened by nearly 2% against the euro since the previous meeting amid renewed geopolitical tensions, increasing upside risks to inflation through higher energy import costs. Looking ahead, the domestic risk assessment is influenced by expectations regarding the fiscal path and the introduction of the euro, as well as developments in the Middle East conflict.
2026-07-21
Hungary Cuts Key Interest Rate as Inflation Falls
The National Bank of Hungary cut its benchmark interest rate by 25 bps to 6% at its June 2026 meeting, in line with market expectations, resuming its easing cycle as inflation continues to ease, helped by a stronger forint and softer import costs. The currency has gained more than 8% against the euro this year, significantly improving Hungary’s inflation outlook by reducing the price of imported goods. The annual inflation rate eased to 1.8% in May from a three-month high of 2.1% in the previous month, giving policymakers more room to cut rates further. The easing cycle contrasts with central banks elsewhere in Europe, where energy-driven inflation risks linked to geopolitical tensions have kept policy tighter.
2026-06-23