EUR/HUF: Forint should benefit from MNB's new tools – ING Hungary EURHUF Banks
will help to improve monetary transmission. Thus the way is up in short rates and the forint could maintain a strengthening trend, in the view of economists at ING.“We affirm our call that the MNB will probably lower its step sizes in the next meetings as the just announced new measures will slowly but surely improve the monetary transmission. We see the gradual slowdown in the tightening cycle end in a 14% terminal rate with the last hike probably coming in December 2022.
“The forint has received positive support, but the long-term effect of the measures announced today is questionable and it is necessary to wait for details. Nevertheless, the forint should benefit from this decision in the coming days in any case. In the second half of September, however, we expect attention to return to the EU funds negotiations.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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