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Hungarian Opinion: National Bank’s Rate Hikes Deemed Necessary

• 3 Sep 2021 2:56 PM
• BudaPost

An independent economist welcomes the National Bank’s base interest rate hikes and the announcement of incremental tapering.

He believes that returning to more orthodox monetary measures will help Hungary prepare for future financial turmoil.

On Portfolio, Péter Kiss welcomes the National Bank’s return to orthodox monetary policy, i.e. gradual rate hikes and the announcement that it may soon slow down the pace of the large scale purchase of government bonds. Kiss thinks that fast GDP growth  is making the prolongation of quantitative easing unnecessary.

These steps will bolster the credibility of the National Bank, while at the same time preparing the Hungarian economy for the likely negative impacts of the US tapering that will be unavoidable, sooner or later, Kiss believes.
 

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Launched in May 2011 to provide a balanced picture of matters covered in Hungary’s national press. Their aim is to make it easier for English-speakers to understand where this country is now and where it’s heading according to the full spectrum of media opinions.

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