• Home
• Channel: Finance
• Central Bank in Hungary Leaves Base Rate on Hold Again at 13%

Central Bank in Hungary Leaves Base Rate on Hold Again at 13%

• 26 Apr 2023 6:20 AM
• Hungary Matters

The Monetary Council of the National Bank of Hungary (NBH) decided to leave the base rate on hold at 13.00%, but voted to cut the central bank’s O/N collateralised loan rate by 450 basis points to 20.50% at a monthly policy meeting.

Deputy governor Barnabás Virág had flagged the cut in the O/N collateralised loan rate, the top of the central bank’s “interest rate corridor”, a week earlier.

In a statement released after the meeting, the Council said it was necessary to maintain the current level of the base rate over a prolonged period, which it said would ensure that inflation expectations are anchored and the inflation target is achieved in a sustainable manner.

They said the risk environment, including Hungary’s risk perception, has “improved significantly”, driven by both external and internal factors.

The decision to narrow the interest rate corridor was taken “in response to the reduction in the risks of extreme scenarios”, they added.

The Council noted that the transition to the increased mandatory reserve requirement ratio, from 5% to 10% from April 1, was “smooth”.

They added that disinflation was expected to accelerate in the next months, “which will also be supported by the growing impact of base effects from the middle of the year”.

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Central Bank Base Rate

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports

Forint Hits 18-Month High

• 20 Nov 2025 6:45 AM

By early Wednesday evening, the euro's exchange rate approached 381 Forints, marking an 18-month high for the Hungarian currency. The euro stood above 384 Forints on Wednesday morning, but the Forint began to strengthen steadily from 11 AM, with the rate falling below 381.7 Forints just before 7 PM.



Analysis: National Bank of Hungary Holds Key Base Rate Steady at 6.50%

• 19 Nov 2025 7:42 AM

The Monetary Council of the National Bank of Hungary (NBH) decided to leave the central bank base rate unchanged at 6.50pc at a monthly policy meeting on Tuesday.



Par'lt Approves Measures Easing Tax, Administrative Burden for Small Businesses in Hungary

• 19 Nov 2025 7:22 AM

Lawmakers approved measures to reduce the tax and administrative burdens of small businesses in a vote on Tuesday.



Hungary Scores 63 on Mastercard Digital Payment Index

• 12 Nov 2025 5:36 AM

Hungary's score on the Mastercard Digital Payment Index has reached 63 on a scale of 1 to 100. Hungary's score on the index, which assesses the digitalisation of consumer payments in the areas of market readiness, digital payment adoption and consumer knowledge and attitudes, improved twelve points in five years, Mastercard said.