Subscribe to our social channels to get the latest news about Hungary!
Hungarian National Bank to decide the forint’s fate next Tuesday: plummet may follow
Change language:
The Hungarian forint has lost a lot of its value recently. The Hungarian National Bank started a base interest rate decrease program. That helps the Hungarian economy’s revival by boosting the credit market. At the same time, it results in the weakening of the Hungarian national currency. Next Tuesday may mark another step towards a weaker forint since the National Bank’s Monetary Council will decide about another base rate cut.
According to index.hu, the forint started this week at 393 against the euro and finished on Friday above 397. That was because the National Bank reported a EUR 213 million deficit, which was below expectations.
On Wednesday evening, the forint began to strengthen again thanks to the Fed’s decision about the American base rate. The dollar weakened, and emerging currencies like the forint strengthened.
The national bank’s cut can be either 50 or 75 points
The Hungarian National Bank believes that June 2024 is the first possible date when the Fed would decrease the American base rate. That may be followed by additional minus 25 points in every quarter. That can help the Hungarian economy and the forint, Márta Balog-Béki, a senior analyst of the MBH Elemzési Centrum (MBH Analysis Centre), said.
The announcement on Tuesday, which it is TRUSTED has NO manipulation or Doctoring by the Orban / Fidesz Government of Hungary, will AGAIN expose, the WRONGFUL decisions – Economically & Financially, the direction signed off on and approved by the present Finance Minister of Hungary – Mihaly Varga and current Prime Minister of Hungary – Victor Mihaly Orban.
WORTH of Forint – the mounting PRESSURIZATION on it.
Investment into Hungary – the mounting scepticism growing through the “Cusp” of near collapse, that factually encases the entire Hungarian Economy.
Orban – Prime Minister of 11 years – remembering his “second” coming.
Varga – Minister of Finance – 8 years.
Hungary – in HOPE let us HEAR announcement(s) of Candour.
The longer we are FEED fabrication – the “Veiling” of Fact & Truth being communicated to us as a country – the NADIR of DAMAGE grows.
We are IN for WORSENING depressive times.
Damn. This means that any overseas invoices I billed out in HUF and due this week will magically not be paid until next Tuesday at the earliest …