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22 May 2015
NBH expected to cut rates by 15 bps – TDS
FXStreet (Edinburgh) - Strategist Paul Fage at TD Securities, sees the Hungarian central bank lowering its benchmark rate by 15 bp next week.
Key Quotes
“Next Tuesday (26 May), we expect the MPC of the National Bank of Hungary (NBH) to cut its base rate by another 15 bps to 1.65%. This is in line with the unanimous consensus”.
“We still expect the NBH to end the current easing cycle by cutting one more time at the June meeting, bringing the base rate to a low of 1.5%”.
“However, we think that the risks of this final cut not happening have increased somewhat over the past month”.
Key Quotes
“Next Tuesday (26 May), we expect the MPC of the National Bank of Hungary (NBH) to cut its base rate by another 15 bps to 1.65%. This is in line with the unanimous consensus”.
“We still expect the NBH to end the current easing cycle by cutting one more time at the June meeting, bringing the base rate to a low of 1.5%”.
“However, we think that the risks of this final cut not happening have increased somewhat over the past month”.