The National Bank of Hungary held its base rate at the expected 13% in May 2023 and noted the need to keep the current level over a prolonged period to ensure anchored inflation expectations and the sustainable achievement of the inflation target. In April, the annual inflation rate declined to 24%, while the core index was 24.8%. The lender projected price growth to slow rapidly in the coming months on tightening conditions and an intensification of base effects from mid-year. Inflation is set to return to its range by 2024. The Council also decided to reduce the interest paid on optional reserves by 100 basis points, effective from 24 May, and to lower the O/N collateralized lending rate by 100 basis points to 19.5%. Policymakers deem it warranted to cut the interest rate on the one-day quick deposit tenders and foreign exchange swap tenders by 100 basis points. They will use instruments to absorb interbank forint liquidity in the long term, thus strengthening the transmission. source: National Bank of Hungary

Interest Rate in Hungary averaged 10.74 percent from 1987 until 2023, 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 Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Interest Rate in Hungary is expected to be 13.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
Hungary Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-03-28 12:00 PM Interest Rate Decision 13% 13% 13% 13.0%
2023-04-25 12:00 PM Interest Rate Decision 13% 13% 13% 13.0%
2023-05-23 12:00 PM Interest Rate Decision 13% 13% 13% 13.0%
2023-06-20 12:00 PM Interest Rate Decision 13% 13.0%
2023-06-20 12:00 PM Inflation Report
2023-07-25 12:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Interest Rate 13.00 13.00 percent May 2023
Interbank Rate 15.70 15.70 percent Jun 2023
Money Supply M1 31201.80 31732.30 HUF Billion Apr 2023
Money Supply M0 19273.30 17279.00 HUF Billion Apr 2023
Money Supply M2 39781.40 40410.20 HUF Billion Apr 2023
Money Supply M3 40982.50 41567.00 HUF Billion Apr 2023
Foreign Exchange Reserves 39877.50 39762.30 EUR Million Apr 2023
Loans to Private Sector 11976.60 12170.90 HUF Billion Mar 2023
Deposit Interest Rate 12.50 12.50 percent May 2023
Cash Reserve Ratio 10.00 10.00 percent May 2023
Central Bank Balance Sheet 27096.10 27463.10 HUF Billion Apr 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
13.00 13.00 28.00 0.60 1987 - 2023 percent Daily

News Stream
Hungary Keeps Interest Rate at 13%, as Expected
The National Bank of Hungary held its base rate at the expected 13% in May 2023 and noted the need to keep the current level over a prolonged period to ensure anchored inflation expectations and the sustainable achievement of the inflation target. In April, the annual inflation rate declined to 24%, while the core index was 24.8%. The lender projected price growth to slow rapidly in the coming months on tightening conditions and an intensification of base effects from mid-year. Inflation is set to return to its range by 2024. The Council also decided to reduce the interest paid on optional reserves by 100 basis points, effective from 24 May, and to lower the O/N collateralized lending rate by 100 basis points to 19.5%. Policymakers deem it warranted to cut the interest rate on the one-day quick deposit tenders and foreign exchange swap tenders by 100 basis points. They will use instruments to absorb interbank forint liquidity in the long term, thus strengthening the transmission.
2023-05-23
Hungary Leaves Interest Rate Unchanged at 13%
The National Bank of Hungary held its base rate at the expected 13% in April 2023 and noted the need to maintain the current level over a prolonged period to ensure anchored inflation expectations and the sustainable achievement of the inflation target. Having peaked in January, the annual CPI index came at 25.2% in February, while the core index was 25.7%. The central bank projected price growth to slow rapidly in the coming months on tightening conditions and an intensification of base effects from mid-year. Inflation is set to return to its range by 2024. The Council also narrowed the interest rate corridor, reducing the O/N collateralised borrowing rate to 20.5% due to improved Hungary's risk perception. The transition to the revised reserve requirement system from April 1st, 2023, went smoothly. The lender will use instruments to absorb interbank forint liquidity in the long term to strengthen monetary policy transmission and monitor risk perception to define its future path.
2023-04-25
Hungary Keeps Interest Rate at 13%, As Projected
The National Bank of Hungary held its base rate unchanged at 13% in March 2023, as projected, and noted it was necessary to maintain the current level over a prolonged period to ensure anchored inflation expectations and the achievement of the inflation target in a sustainable manner. In February, annual inflation was 25.4%, and core inflation stood at 25.2%, in line with the bank's estimates. Looking ahead, the lender forecasted the price growth to slow gradually in H12023 and more rapidly from the middle of the year. The return to the tolerance band is projected for 2024. Meanwhile, the Council changed the interest rate on reserve accounts to increase the amount of liquidity absorbed on a long-term basis. Also, the NBH will continue using one-day deposit quick tenders and FX swap transactions to secure financial market stability.
2023-03-28