The National Bank of Hungary held its benchmark base rate unchanged at 0.6 percent and the overnight deposit rate at -0.05 percent on May 25th, on what could be the last meeting before a likely interest rate hike in June. Policymakers reiterated that the bank would adjust short-term rates proactively to tackle inflationary risks and to ensure price stability, in line with previous statements by the Deputy Governor, who also mentioned monetary policy would enter a new phase from June, when the economy is expected to fully reopen. The Monetary Council assessed that risks to the outlook for inflation have strengthened recently. Consumer prices in April jumped 5.1 percent year-on-year, above the central bank’s target range between 2 and 4 percent, mainly driven by a surge in transport prices. Meanwhile, the economy advanced 1.9 percent on quarter in the first three months of 2021, signalling a faster recovery. source: National Bank of Hungary
Interest Rate in Hungary averaged 10.92 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 June of 2021.
Interest Rate in Hungary is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Hungary to stand at 1.00 in 12 months time. In the long-term, the Hungary Interest Rate is projected to trend around 1.25 percent in 2022 and 1.50 percent in 2023, according to our econometric models.