Hungary: NBH to keep all its policy rates on hold - TDS

In line with the unanimous consensus, analysts at TD Securities expect the NBH to keep all its policy rates on hold today.

Key Quotes

“We also expect little change in the press statement, which will downplay the rise in headline inflation to 3.8% Y/Y in October and maintain that the 3% target should be reached by mid-2019.”

“There is the possibility than the language regarding the imminent end of the current loose monetary policy, i.e. normalization, will be strengthened, but that is not our expectation. New information about the normalization process will probably have to wait for the December meeting when the Monetary Council will have the December inflation report to hand.”