The National Bank of Hungary cut its benchmark base rate by 15bps to a record low of 0.75 percent on June 23rd of 2020, surprising markets who were expecting no changes. The decision comes after the annual inflation rate fell to an over two-year low of 2.2 percent, below the 3 percent NBH’s medium term target. The overnight deposit rate was kept unchanged at -0.05 percent as expected. At the same time, the overnight and one-week collateralised lending rates were also kept at 1.85 percent.
Interest Rate in Hungary averaged 11.13 percent from 1987 until 2020, reaching an all time high of 28 percent in January of 1995 and a record low of 0.75 percent in June 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 July of 2020. source: National Bank of Hungary
Interest Rate in Hungary is expected to be 0.75 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 0.75 in 12 months time. In the long-term, the Hungary Interest Rate is projected to trend around 1.00 percent in 2021 and 1.25 percent in 2022, according to our econometric models.