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World

Hungary central bank says ready to act if CPI outlook changes

  • The Council continuously assesses incoming data, closely monitors the persistence of inflationary effects resulting from the restoration of the economy.
  • If warranted by a change in the outlook for inflation, the MNB will be ready to use the appropriate instruments.
Published October 20, 2020

BUDAPEST: The National Bank of Hungary (NBH) will be ready to use the appropriate tools if justified by a change in the inflation outlook, it said on Tuesday after keeping interest rates on hold, as widely expected.

"The Council continuously assesses incoming data, closely monitors the persistence of inflationary effects resulting from the restoration of the economy and the possible inflationary effects of financial market developments," the Monetary Council said in a statement.

"If warranted by a change in the outlook for inflation, the MNB will be ready to use the appropriate instruments," the panel said, dropping the word 'persistent' from its forward guidance issued last month.

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