HSBC projects a 25bp policy rate cut by the National Bank of Hungary on 23 June 2026, driven by favorable inflation dynamics and currency appreciation. The firm anticipates a total easing of 75bp this year and 50bp in 2027 to reach a 5% terminal rate.
Key Takeaways
- 1.HSBC expects the National Bank of Hungary (NBH) to cut its policy interest rate by 25bp in June 2026.
- 2.The easing cycle forecast aims for rates to reach 5% by 2027.
Table of Contents
- Hungary (NBH preview)
- Restart of easing
- Disclosures & Disclaimer
- Disclosure appendix
- Analyst Certification
- Important disclosures
- Additional disclosures
- Disclaimer
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Authors
Agata Urbanska-Giner
Themes
Monetary Policy EasingInflation Dynamics
Regions
EuropeHungary