شركة رقمي
نقل من موقع 
(Updates with cenbank decision, forint reaction)
By Anita Komuves
BUDAPEST, July 27 (Reuters) - The Hungarian forint firmed,
rebounding from three-month lows after the central bank hiked
its base rate by 30 basis points to 1.2%, above forecasts,
opting to front-load its tightening cycle that it started last
month in order to fight inflation.
The bank also raised its overnight deposit rate by 30 basis
points to 0.25% and the collateralised loan rate by 30 basis
points to 2.15%.
The bank will hold an online news conference at 1300 GMT.
"The forint is firming because this looks pretty hawkish, a
30 basis-point hike was the top of expectations. I don"t think
anyone expected a bigger hike than this," a Budapest-based
trader said.
The forint was up 0.68% on the day and trading at
359.17 per euro by 1224 GMT. This level is more than half a
percent stronger than the 361 level where the currency was
trading immediately before the rate hike was announced.
A Reuters poll of analysts expected the National Bank of
Hungary (NBH) to raise its base rate by 20 basis points to 1.1%.
The currency has been pressured in the past month by a
weakening global sentiment in financial markets and debates
between the Hungarian government and the EU over the
disbursement of recovery funds.
Higher-than-expected June inflation also put a pressure on
the forint. Hungary"s headline inflation rate
accelerated to an annual 5.3% in June from 5.1% in May, its
highest in nearly a decade.
Commerzbank expects a 1.50% policy rate by the end of the
NBH"s tightening cycle.
"It would not matter much for the EUR-HUF exchange rate
whether this is implemented in four 15bp steps, or a more
front-loaded combination of 30bp steps. In any case, 1.50% rate
would not be high enough to produce a stable exchange rate when
inflation is running at 5%," Commerzbank analysts wrote.
Elsewhere, the Czech crown edged up 0.01% to
25.6800 per euro and the Polish zloty added 0.1% and
was trading at 4.5895 as the global risk-off mood kept
pressuring currencies in the region.
Most stocks in the region fell, with Warsaw leading
losses with a 0.88% decline.
CEE SNAPSHO AT
MARKETS T 1424 CET
CURRENC
IES
Latest Previous Daily Change
bid close change in 2021
EURCZK= Czech
مشاركة :
