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The National Bank of Hungary’s Monetary Council decided to keep the central bank’s key rate on hold at 0.90% at a monthly policy meeting. The Council has left the base rate on hold since signalling an end to an easing cycle at a policy meeting in the spring of 2016.
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Standard & Poor’s Global Ratings is scheduled to review Hungary’s sovereign credit rating on Friday. This will be the second and last scheduled sovereign credit rating review of Hungary by S&P this year.
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Improved tax morale that comes with measures the government has taken to crack down on tax evasion, such as the introduction of online invoicing, could bring Hungary’s tax gap under 10 percent, Finance Minister Mihály Varga told MTI.
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Hungary had a 1.07 billion euro trade surplus in June 2018, the Central Statistical Office (KSH) said in a first reading of data. The surplus was up by 119 million euros from the same month a year earlier.
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The Hungarian Central Statistical Office (KSH) says the CPI grew in Hungary by an annual 3.4% this July.
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With consumer inflation data is due to be published on Wednesday by the statistical office, analysts forecasting it at between 3.1-3.3%. The central bank expects a sovereign rating upgrade soon.
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