The National Bank of Hungary held its benchmark base rate unchanged at 0.9 percent on December 17th 2019, after annual inflation rate rose to 3.4 percent in November and above the 3 percent NBH’s medium term target. The overnight collateralised loan rate and the overnight central bank deposit rate were also kept at 0.9 percent and -0.05 percent, respectively. Interest Rate in Hungary averaged 11.28 percent from 1987 until 2019, reaching an all time high of 28 percent in January of 1995 and a record low of 0.90 percent in May of 2016. source: National Bank of Hungary

Interest Rate in Hungary is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Hungary to stand at 0.90 in 12 months time. In the long-term, the Hungary Interest Rate is projected to trend around 1.25 percent in 2020, according to our econometric models.

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Hungary Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.90 0.90 28.00 0.90 1987 - 2019 percent Daily



Calendar GMT Actual Previous Consensus TEForecast
2019-09-24 12:00 PM 0.9% 0.9% 0.9% 0.9%
2019-10-22 12:00 PM 0.9% 0.9% 0.9% 0.9%
2019-11-19 01:00 PM 0.9% 0.9% 0.9% 0.9%
2019-12-17 01:00 PM 0.9% 0.9% 0.9% 0.9%
2020-01-28 01:00 PM 0.9% 0.9%


News Stream
2019-11-19
Hungary Leaves Monetary Policy Unchanged
The National Bank of Hungary held its benchmark base rate unchanged at 0.9 percent on November 19th 2019, after inflation rate rose to 2.9 percent in October and close to the 3 percent NBH’s target. The overnight collateralised loan rate and the overnight central bank deposit rate were also kept at 0.9 percent and -0.05 percent, respectively.

2019-10-22
Hungary Keeps Rates Steady
The National Bank of Hungary held its benchmark base rate unchanged at 0.9 percent on October 22nd 2019, as expected after annual inflation rate eased to 2.8 percent, the lowest since January and near the 3 percent NBH’s target. The overnight collateralised loan rate and the overnight central bank deposit rate were also kept at 0.9 percent and -0.05 percent, respectively.

2019-09-24
Hungary Holds Key Rate At 0.9%
The National Bank of Hungary held its benchmark base rate unchanged at 0.9 percent on September 24th 2019, as expected saying downside inflation risks have strengthened further. In August, annual inflation rate eased to 3.1 percent from 3.3 percent in July and neared the 3 percent NBH’s target. Policymakers added that GDP is expected to grow by 4.5 percent in 2019 and by 3.3 percent in 2020 and 2021. The overnight collateralised loan rate and the overnight central bank deposit rate were also kept at 0.9 percent and -0.05 percent, respectively.

2019-08-27
Hungary Leaves Monetary Policy Unchanged
The National Bank of Hungary held its benchmark base rate unchanged at 0.9 percent on August 27th 2019, as expected after inflation eased to 3.3 percent in July and neared the 3 percent NBH’s target. The overnight collateralised loan rate and the overnight central bank deposit rate were also kept at 0.9 percent and -0.05 percent, respectively.

2019-07-23
Hungary Holds Key Rate At 0.9%
The National Bank of Hungary held its benchmark base rate unchanged at 0.9 percent on July 23rd 2019, as expected after the target for excess liquidity in the economy for the third quarter was reduced in the previous meeting. In June, annual inflation rate fell to 3.4 percent from 3.9 percent in May, easing toward the 3 percent NBH’s target. The overnight collateralised loan rate and the overnight central bank deposit rate were also kept at 0.9 percent and -0.05 percent, respectively.

2019-06-25
Hungary Keeps Rates Steady
The National Bank of Hungary held its benchmark base rate unchanged at 0.9 percent on June 25th 2019, after inflation rate came in at 3.9 percent, its highest level since December 2012 and near the top of the NBH's 2-4% target range, on the back of the increase in excise duty. At the same time, core inflation jumped to 4 percent in May from 3.7 percent in April, its highest level since September of 2012. A new round of excise duty hikes on tobacco products is expected to kick in from July. The overnight collateralised loan rate and the overnight central bank deposit rate were also kept at 0.9 percent and -0.05 percent, respectively.


Hungary Interest Rate
In Hungary, interest rates decisions are taken by the Monetary Council of the Hungarian National Bank (Magyar Nemzeti Bank). The main interest rate is the central bank base rate on refinancing credit maturing over one year that the Central Bank lends to financial institutions.

Hungary Money Last Previous Highest Lowest Unit
Interest Rate 0.90 0.90 28.00 0.90 percent [+]
Interbank Rate 0.16 0.16 32.00 0.02 percent [+]
Money Supply M0 8182.30 7621.40 8182.30 1052.00 HUF Billion [+]
Money Supply M1 24201.60 23570.30 24201.60 587.00 HUF Billion [+]
Money Supply M2 27249.50 26658.50 27249.50 885.10 HUF Billion [+]
Money Supply M3 27364.20 26765.90 27364.20 991.40 HUF Billion [+]
Foreign Exchange Reserves 28385.10 29311.60 38763.60 678.80 EUR Million [+]
Banks Balance Sheet 44077.60 43646.10 44077.60 5798.70 HUF Billion [+]
Loans to Private Sector 8326.11 8169.33 8732.40 2483.20 HUF Billion [+]
Deposit Interest Rate -0.05 -0.05 11.50 -0.15 percent [+]
Private Debt to GDP 133.37 135.83 183.52 85.63 percent [+]
Cash Reserve Ratio 1.00 1.00 17.00 1.00 percent [+]
Central Bank Balance Sheet 12436.30 11719.86 13674.13 3687.66 HUF Billion [+]