Hungary: NBH to keep all its policy rates on hold - TDS

In line with the unanimous consensus, analysts at TD Securities are expecting the NBH to keep all its policy rates on hold at today's Monetary Council (MC) meeting.

Key Quotes

“Since the last MC meeting headline inflation fell to 3.4% y/y in June from 3.9% in May and core ex-taxes to 3.5% from 3.7%. Furthermore, the global financial environment remains decisively dovish, with the Fed likely to cut next week.”

“We think the MC will keep rates on hold and continue with their wait-and-see approach until September when the new economic forecasts will be available.”