PrintHungary's Central Bank Keeps Rates on Hold, as Expected
BY MT Newswires | ECONOMIC | 10/21/25 11:39 AM EDT11:39 AM EDT, 10/21/2025 (MT Newswires) -- Hungary's central bank (MNB) on Tuesday said the Monetary Council left the key base rate at 6.50%, a move expected by the majority of economists.
MNB noted in its policy statement that the Monetary Council also kept the o/n deposit rate at 5.50% and the o/n collateralized lending rate at 7.50%.
ING said after the policy statement that it believes the central bank is prepared to maintain interest rates at their current level for the foreseeable future. The bank assumes that the policy rate will remain at 6.50% for the rest of the year and possibly for much of 2026 as well. +
ING's base case assumes a backloaded easing cycle starting in the fall next year, totalling 100bps of rate cuts and setting the base rate at 5.50% by the end of 2026.
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