Hungary Interest Rate

Last Release

Dec 17, 2024

Actual

6.5

Units In

6.5

Frequency

Daily

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
28 Jan 1995	0.6 Jul 2020	10.72 %	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

The central bank of Hungary maintained its base rate unchanged at 6.5% for the third straight decision in its December 2024 meeting, as expected by markets, to maintain its pause from a series of rate cuts since last year. Rates for collateralized loans and overnight deposits also remained unchanged at 7.5% and 5.5%, respectively. The central bank noted that the latest data showed that domestic industrial activity has slowed, driving the Hungarian GDP to contract annually in the third quarter. Still, the bank also noted that inflation picked up in the fourth quarter and is due to increase past its tolerance band in early 2025 before starting the disinflation process. The Monetary Council deemed that the current interest rates remain appropriate to slow inflation while preventing growth from falling into further pressure.