Investors will no doubt zero in on today’s interest rate decision in a rate-setting Monetary Council meeting at the National Bank of Hungary. Analysts in a Portfolio.hu poll last week concurred the rate was likely to remain unchanged, arguing the Monetary Council will most probably wait and see new developments amid risks associated with a lack of investor confidence in global markets and the fact that next moves of Hungary’s economic policymakers remain shrouded in uncertainty.

More interestingly, expectations of further rate cuts have disappeared from the analyst consensus for the first time in a long while, suggesting that at the current level of 5.25% the series of rate cuts may have already hit rock bottom."

Source: Portfolio Online Financial Journal