The National Bank of Hungary lifted its benchmark base rate by another 30 basis points to 1.5% on August 24th, a level not seen since June of 2015, as expected. The central bank also hiked the overnight deposit rate and the collateralised loan rate by the same margin to 0.55% and 2.45%, respectively. The decision was aimed at curbing inflationary pressures and re-anchoring inflation expectations, amid a buoyant economic recovery. Headline inflation eased to 4.6% in July from a nine-year high of 5.3% in June, but it is expected to remain above the central bank tolerance band of 3% +/- 1 percentage point until the end of the year. Hungarian policymakers have stressed that they’ll keep up the tightening cycle until inflation is on track to hit the central bank’s 3% target over the monetary horizon. The central bank also announced that it would start gradually winding down its government bond purchase programme. source: National Bank of Hungary
Interest Rate in Hungary averaged 10.84 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 September of 2021.
Interest Rate in Hungary is expected to be 1.70 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.