NBH Rate-setting meeting: Central bank continued lowering its effective 1-day depo rate by 100bps
At the June 20 Monetary Council (MC) meeting the
NBH lowered the effective 1-day depo rate by 100bps
to 16%.
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 that of the comments in
May: they highlighted ongoing cautious stance and
suggested that further rate cuts may arrive provided
that improving risk parameters and market stability
remain on track in the months ahead.
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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