May 26
Hungary: MNB maintains hawkish stance
The Hungarian central bank today hiked its key policy rate by another 25bp to 8.50%. This was both the consensus expectation and our own. If anybody deserves a prize for being a cautious central banker in CEE it must be the Hungarian central bank governor Andras Simor. Despite continued very weak domestic demand and a currency that has held up remarkably well during the global credit crisis, the MNB governor and his colleagues have maintained a very cautious or even outright hawkish
