Hungary Interest Rate

Last Release

Nov 19, 2024

Actual

6.5

Units In

6.5

Frequency

Daily

Next Release

Dec 17, 2024

Time to Release

26 Days 13 Hours

Highest	Lowest	Average	Date Range	Source
28 Jan 1995	0.6 Jul 2020	10.73 %	1987-2024	National Bank of Hungary

In Hungary, interest rates decisions are taken by the Monetary Council of the Hungarian National Bank (Magyar Nemzeti Bank). The main interest rate is the central bank base rate on refinancing credit maturing over one year that the Central Bank lends to financial institutions.

Latest Updates

Hungary’s central bank held its base rate steady at 6.5% in November 2024 for the second straight month as expected. Rates for collateralized loans and overnight deposits also remained unchanged at 7.5% and 5.5%, respectively. In October, Hungary's annual headline inflation rose to 3.2% from 3% in September, while core inflation eased to 4.5% from 4.8%. The central bank’s decision aimed to stabilize the forint, which saw sharp declines following Donald Trump's election win, triggering notable currency losses in emerging markets. The forint has dropped about 2.5% against the euro since October, nearing a two-year low, making it the weakest among European emerging-market currencies. Deputy Governor Barnabas Virag indicated last month that rates could remain unchanged for an extended period.