CPI - MNB Considers Tightening
Márton Nagy, deputy governor of the MNB said today they would consider the core inflation developments when assessing the appropriateness of monetary policy. He said if the tax-adjusted core indicator was to exceed the 3% level (the target of the monetary policy, akthough for the headline), they would take it as ample reason to start monetary tightening.
As a reminder, the tax-adjusted core reached 2.9% in December, according to yesterday’s figures.
MNB’S ALTERNATIVE CORE INDICATORS AND THE HEADLINE CPI (%, YOY)
Source: MNB
The MNB has in recent meetings gradually intensified its communication referring to the likely normalization of its policies.
This communication by the MNB reassures us that the monetary normalization/tightening that we have been expecting is on its way.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.