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 October 20th of 2020, as expected after the annual inflation rate slowed to a three-month low of 3.4% in September. Still, it remains above the 3 percent NBH’s medium term target. At the same time, the overnight and one-week collateralised lending rates were also kept at 1.85 percent.

Interest Rate in Hungary averaged 11.05 percent from 1987 until 2020, 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 October of 2020. source: National Bank of Hungary

Interest Rate in Hungary is expected to be 0.60 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 0.60 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.

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Hungary Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.60 28.00 0.60 1987 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-07-21 12:00 PM 0.6% 0.75% 0.6% 0.6%
2020-08-25 12:00 PM 0.6% 0.6% 0.6% 0.6%
2020-09-22 12:00 PM 0.6% 0.6% 0.6% 0.6%
2020-10-20 12:00 PM 0.6% 0.6% 0.6% 0.6%
2020-11-17 01:00 PM 0.6% 0.6%
2020-12-15 01:00 PM 0.6%


News Stream
Hungary Leaves Monetary Policy Unchanged
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 October 20th of 2020, as expected after the annual inflation rate slowed to a three-month low of 3.4% in September. Still, it remains above the 3 percent NBH’s medium term target. At the same time, the overnight and one-week collateralised lending rates were also kept at 1.85 percent.
2020-10-20
Hungary Holds Key Rate At 0.6%
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 September 22nd of 2020, as expected despite the annual inflation rate rose to 3.9% in August and above the 3 percent NBH’s medium term target. At the same time, the overnight and one-week collateralised lending rates were also kept at 1.85 percent.
2020-09-22
Hungary Keeps Rates Steady
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 August 25th of 2020, as expected despite the annual inflation rate surged beyond forecasts to 9.8% in July and above the 3 percent NBH’s medium term target. The bank also said it would ramp up bond purchases after preliminary estimates showed the Hungarian economy shrank by 13.6% in Q2, worse than expectations of a 10.5% contraction. At the same time, the overnight and one-week collateralised lending rates were also kept at 1.85 percent.
2020-08-25
Hungary Cuts Key Rate to New Low of 0.6%
The National Bank of Hungary slashed its benchmark base rate by 15bps to a record low of 0.6 percent on July 21st of 2020, as expected following a cut by a similar margin in the previous meeting in an attempt to support the economy from the coronavirus crisis. The decision comes after the annual inflation rate rose to 2.9 percent in June, close to 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.
2020-07-21

Hungary Interest 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 central bank base rate on refinancing credit maturing over one year that the Central Bank lends to financial institutions.