In this ING analysis, Peter Virovacz and Zoltán Homolya assess how sharply lower January inflation has shifted Hungary’s monetary outlook
-
Headline CPI fell to 2.1% YoY, with core at 2.7%, both below the central bank’s 3% target for the first time since 2019, supported by subdued services inflation and lower energy and fuel prices.
-
Monthly repricing was unusually modest, while extended price shields and a strong forint delay any near-term reacceleration.
-
ING now sees 25bp rate cuts in both February and March, barring a sustained forint shock.
Is this the start of a durable disinflation cycle—or a temporary policy window? The full note examines the risks.
Om dit artikel te lezen heeft u een abonnement op Investment Officer nodig. Heeft u nog geen abonnement, klik op "Abonneren" voor de verschillende abonnementsregelingen.
