The Central Bank of Hungary (Nemzeti Bank) cut interest rates as expected by 25 basis points to 7%. Deputy Governor Barnabás Virág said at the May decision that the central bank may continue to cut interest rates in June, but current data suggests there is very limited room for further rate cuts in the second half of the year.

Source: Nemzeti Bank
Euro weakened vs Hungarian forint, shortly before Hungarian central bank decision.
Source: xStation5
BREAKING: EURUSD muted; US services growth cools in December as demand softens 📌
Barkin and Miran remain on opposite sides of the Fed policy path🎙️
BREAKING: German inflation comes in significantly below expectations, EURUSD slips 📉
BREAKING: European PMIs slightly weaker than expected; Spain stands out positively 🔎