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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.

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.

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.

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.

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.

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.