Hungary’s central bank expects core inflation to rise

Shoaib Ur Rehman December 18, 2018

BUDAPEST: Hungary’s central bank said on Tuesday that core inflation excluding indirect tax effects was likely to rise in coming quarters, and incoming economic data will be key to its decisions about adjusting monetary conditions.

“The Monetary Council is prepared for the gradual and cautious normalisation of monetary policy, which will begin depending on the persistent inflationary developments,” the rate-setting panel said in a statement.

“The Monetary Council closely monitors incoming macroeconomic data and will decide to adjust monetary conditions depending on their outcome,” it added.

The bank said that core inflation excluding indirect tax effects was likely to rise above 3 percent in early 2019 and then stay close to 3 percent over the monetary policy horizon.

Copyright Reuters, 2018
 

 

 

 

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