The National Bank of Hungary raised its benchmark base rate by 30 basis points to 2.1 percent on November 16th, the highest since February of 2015, and in line with expectations. It was the sixth rate-hike in a row as the inflation outlook remains tilted to the upside. The consumer price index rose 6.5 percent in October, driven by increases in fuel, industrial goods and food prices. Meanwhile, the monetary authority judges that the Hungarian economy has restarted successfully, as GDP grew by 6.1 percent, 0.7 percent higher than its pre-pandemic level during the third quarter of 2021 and monthly indicators suggest a continuation of the recovery but at a slower pace during the fourth quarter. Looking ahead, the Monetary Council will continue the cycle of interest rate hikes until the outlook for inflation stabilises around the central bank target of 2-4% and inflation risks become evenly balanced. source: National Bank of Hungary
Interest Rate in Hungary averaged 10.78 percent from 1987 until 2021, reaching an all time high of 28 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 Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.
Interest Rate in Hungary is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary Interest Rate is projected to trend around 2.75 percent in 2022 and 3.00 percent in 2023, according to our econometric models.