HU: MNB kept the rates on hold again

Today, the policy rate remained unchanged at 6.50%. Additionally, the Monetary Council kept both the O/N deposit rate and the O/N lending rate stable at 5.50% and 7.50%. The decision was in line with the broad market consensus and our expectation. It was the seventh hold decision in a row since the last cut in September 2024.

The statement of the monetary council will be released at 3 p.m. and Governor Varga will hold a press conference at that time on the background of todays decision. We will publish another Instant Comment on the details.