NBH Rate-setting meeting Central bank continued lowering its effective 1-day depo rate by 100bps
At the August 29 Monetary Council (MC) meeting the
NBH lowered the effective 1-day depo rate by 100bps
to 14%.
Similarly, the top of the interest rate corridor was
lowered by 100bps. The base rate was left unchanged
at 13.00%. The decisions were in line with the market
consensus and came as neutral for the forint and
other Hungarian assets. Subsequent central bank
comments were similar to the previous ones in terms
of cautiousness. Referring to the approaching merger
of the effective depo rate and the base rate NBH vicegovernor Barnabás Virág highlighted that it would be
followed by the simplification of the monetary toolkit.
Further rate cuts may arrive provided that improved
risk parameters and the market environment remain
stable.
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.
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