HUNGARY: Local Focus Remains Centred on Yesterday’s Rate Decision
* Much of the local focus remains on yesterday's central bank rate decision. Both the decision to leave the base rate unchanged at 5.50% and the announcement of a lower inflation target were in line with expectations. See our full review of the meeting here: (note that this will be updated with sell-side views later this morning). * Balazs Hanko, who served as culture minister during the second half of Orban's last term, and Miklos Sesztak, Orban's national development minister from 2014 to 2018, would be the first former cabinet members to face charges. * Separately, prosecutors have asked parliament to lift the immunity of Prime Minister Peter Magyar, allowing a criminal investigation into an alleged 2024 theft to resume. The investigation was previously halted after the European Parliament refused to waive Magyar's immunity when he was an MEP, but was reopened after he became an MP in May. Magyar has not been charged and the immunity reque
* Much of the local focus remains on yesterday's central bank rate decision. 50% and the announcement of a lower inflation target were in line with expectations. See our full review of the meeting here: (note that this will be updated with sell-side views later this morning). * Balazs Hanko, who served as culture minister during the second half of Orban's last term, and Miklos Sesztak, Orban's national development minister from 2014 to 2018, would be the first former cabinet members to face charges.
* Separately, prosecutors have asked parliament to lift the immunity of Prime Minister Peter Magyar, allowing a criminal investigation into an alleged 2024 theft to resume. The investigation was previously halted after the European Parliament refused to waive Magyar's immunity when he was an MEP, but was reopened after he became an MP in May. Magyar has not been charged and the immunity request must first be approved by parliament. * Later today, Prime Minister Peter Magyar will chair a weekly cabinet meeting.
Economic sentiment and business confidence data for September will be released overnight.