The National Bank of Hungary raised its benchmark base rate by 15 basis points to 1.8 percent on October 19th, a level not seen since April of 2015, and in line with expectations. It was the fifth rate hike in a row as the inflation outlook remains surrounded by upside risks. Policymakers expect the tightening cycle to continue until the inflation outlook shows a sustainable convergence to the central bank's 2% to 4% target. The consumer prices index rose 5.5 percent in September, the prices rise was driven by a wide range of products and services. Meanwhile, the monetary authority judges that the Hungarian economy has restarted successfully, as GDP hit its pre-pandemic level during the second quarter of 2021 and monthly indicators suggest a continuation of the strong recovery during the third quarter. The tightening cycle is expected to take effect at the beginning of 2022 helping the convergence of inflation to the 3 percent level during the second half of 2022. source: National Bank of Hungary
Interest Rate in Hungary averaged 10.80 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 October of 2021.
Interest Rate in Hungary is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary Interest Rate is projected to trend around 2.75 percent in 2022 and 3.00 percent in 2023, according to our econometric models.