Did the MNB really cut interest rates? György Matolcsy will soon reveal it

As could be expected, the MNB still did not reach the base interest rate of 13 percent, but as long as the governing one-day deposit rate is higher than this, there is no need to expect this. The main question now is whether the gradual reduction of the 18 percent benchmark interest rate will begin.

In the announcement to be published at three o’clock, it will be worth paying attention to whether the central bank considers it justified to lower the benchmark interest rate starting tomorrow, and if so, by how much. In addition, of course, what is included in the justification and what further steps are envisaged can also be interesting.

György Matolcsy’s press conference on the “actualities of monetary policy” will begin at the same time as the release of the announcement, which in practice may mean the justification for today’s decision, as well as references to the further course of interest rates.

Portfolio will continue to monitor developments and possible market reactions this afternoon as well.

Cover image: MTI/Szilárd Koszticsák

Source: Portfolio.hu – Gazdaság by www.portfolio.hu.

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