BREAKING: Forint fell over 1% due to suspension of rate hikes process

3:40 PM June 23, 2022

The forint is losing more than 1% against the dollar and the euro today, which is related to the lack of an interest rate hike during today's decision. The main interest rate was kept at 7.25%, which may suggest the intention to end the rate hikes cycle. On the other hand, the median of expectations indicated such a move on the part of the Central Bank of Hungary.

Currently, Hungary has the highest interest rate in the EU. The Czech Republic is right after them, which yesterday decided to raise rates to 7% (a hike by 125 bp). Is this move from Hungary and the strong rate hike in the Czech Republic supposed to indicate a ceiling of around 7%?

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The forint is losing, the koruna is stable and the zloty fell sharply for the second session in a row. Source: xStation5


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