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Hungary Primes for Second Rate Hike to Curb Fastest EU Inflation

From bnnbloomberg.ca

Hungary is set to deliver a second interest-rate increase in as many months to combat the European Union’s fastest inflation, though economists disagree on the size of the move. The eastern European country and the nearby Czech Republic both tightened monetary policy in June as a rally in global commodities and the easing of lockdowns pushed consumer prices sharply higher. The central bank has flagged a campaign of monthly hikes to drag inflation back down to the 3% target from more than 5% at present. The question on Tuesday is by how much after price growth overshot estimates last month. Most analysts surveyed by ... (full story)

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