The National Bank of Hungary held its benchmark base rate unchanged at 0.6 percent and the overnight deposit rate at -0.05 percent on April 27th, saying it stands ready to act if necessary to ensure price stability amid the third wave of the coronavirus pandemic. The central bank revised up forecasts on Q2 headline inflation to 5 percent, thus overshooting the Bank’s target range of 2-4 percent, saying that spikes in consumer prices will occur in the coming months due to base effects, rising fuel prices, a further increase in excise duties and demand-supply frictions as the economic activity recovers. At the same time, GDP is expected to grow by between 4 and 6 percent in 2021, by between 5 and 6 percent in 2022 and by 3.5 percent in 2023. source: National Bank of Hungary
Interest Rate in Hungary averaged 10.92 percent from 1987 until 2021, reaching an all time high of 28 percent in January of 1995 and a record low of 0.60 percent in July of 2020. This page provides the latest reported value for - Hungary Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hungary Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Interest Rate in Hungary is expected to be 1.00 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 1.00 in 12 months time. In the long-term, the Hungary Interest Rate is projected to trend around 1.00 percent in 2022 and 1.25 percent in 2023, according to our econometric models.