The National Bank of Hungary kept its key interest rate steady at 6.50% during its February 2025 meeting, as widely anticipated, amid growing concerns over inflationary pressures. In January, the central bank adopted a more hawkish stance, tightening its monetary policy guidance following a surge in inflation, effectively ruling out rate cuts in the near future. Consumer price inflation accelerated to 5.5% in January, the highest level since December 2023, while core inflation climbed to a 12-month high of 5.8%, both remaining well above the central bank's 3% target. Additionally, the interest rates on overnight central bank deposits and overnight collateralized loans were left unchanged at 5.5% and 7.5%, respectively. source: National Bank of Hungary

The benchmark interest rate in Hungary was last recorded at 6.50 percent. Interest Rate in Hungary averaged 10.67 percent from 1987 until 2025, reaching an all time high of 28.00 percent in January of 1995 and a record low of 0.60 percent in July of 2020. This page provides the latest reported value for - Hungary Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hungary Base Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2025.

The benchmark interest rate in Hungary was last recorded at 6.50 percent. Interest Rate in Hungary is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary Base Rate is projected to trend around 5.00 percent in 2026 and 4.50 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-12-17 01:00 PM Interest Rate Decision 6.5% 6.5% 6.5% 6.5%
2025-01-28 01:00 PM Interest Rate Decision 6.5% 6.5% 6.5% 6.5%
2025-02-25 01:00 PM Interest Rate Decision 6.5% 6.5% 6.5% 6.5%
2025-03-25 01:00 PM Interest Rate Decision 6.5% 6.5%
2025-04-29 12:00 PM Interest Rate Decision 6.5%
2025-05-27 12:00 PM Interest Rate Decision 6.5%


Related Last Previous Unit Reference
Cash Reserve Ratio 10.00 10.00 percent Feb 2025
Central Bank Balance Sheet 28191.98 29011.99 HUF Billion Feb 2025
Deposit Interest Rate 5.50 5.50 percent Feb 2025
Foreign Exchange Reserves 46200.90 47261.70 EUR Million Feb 2025
Interbank Rate 6.51 6.51 percent Mar 2025
Interest Rate 6.50 6.50 percent Feb 2025
Interest Rate 6.50 6.50 percent Feb 2025
Loans to Private Sector 12953.90 13136.40 HUF Billion Jan 2025
Money Supply M0 19082.00 18586.40 HUF Billion Feb 2025
Money Supply M1 32901.50 34468.10 HUF Billion Jan 2025
Money Supply M2 43450.30 43939.10 HUF Billion Jan 2025
Money Supply M3 45642.20 46099.60 HUF Billion Jan 2025

Hungary Base Rate
In Hungary, interest rates decisions are taken by the Monetary Council of the Hungarian National Bank (Magyar Nemzeti Bank). The main interest rate is the base rate.
Actual Previous Highest Lowest Dates Unit Frequency
6.50 6.50 28.00 0.60 1987 - 2025 percent Daily
NSA


News Stream
Hungary Leaves Key Rates Unchanged
The National Bank of Hungary kept its key interest rate steady at 6.50% during its February 2025 meeting, as widely anticipated, amid growing concerns over inflationary pressures. In January, the central bank adopted a more hawkish stance, tightening its monetary policy guidance following a surge in inflation, effectively ruling out rate cuts in the near future. Consumer price inflation accelerated to 5.5% in January, the highest level since December 2023, while core inflation climbed to a 12-month high of 5.8%, both remaining well above the central bank's 3% target. Additionally, the interest rates on overnight central bank deposits and overnight collateralized loans were left unchanged at 5.5% and 7.5%, respectively.
2025-02-25
Hungary Leaves Base Rate Steady for 4th Time at 6.5%
Hungary’s central bank held its base rate at 6.5% in January 2025, unchanged for the fourth consecutive meeting, in line with market expectations, to anchor inflation expectations. Rates for collateralized loans and overnight deposits also remained unchanged at 7.5% and 5.5%, respectively. Policymakers hinted that the main rate could stay at 6.5% for an extended period, citing the increased risk of higher inflation in 2025 due to the weak forint, tax hikes, and rising fuel and food prices, which may push inflation above last year's 3.7% rate. The annual inflation rate in Hungary climbed for the third month to 4.6% in December 2024, the steepest since December 2023, above market expectations of 4.4%. The central bank targets 3% inflation in the medium term, with a 1 percentage point tolerance band around it.
2025-01-28
Hungary Holds Rate Unchanged as Expected
The central bank of Hungary maintained its base rate unchanged at 6.5% for the third straight decision in its December 2024 meeting, as expected by markets, to maintain its pause from a series of rate cuts since last year. Rates for collateralized loans and overnight deposits also remained unchanged at 7.5% and 5.5%, respectively. The central bank noted that the latest data showed that domestic industrial activity has slowed, driving the Hungarian GDP to contract annually in the third quarter. Still, the bank also noted that inflation picked up in the fourth quarter and is due to increase past its tolerance band in early 2025 before starting the disinflation process. The Monetary Council deemed that the current interest rates remain appropriate to slow inflation while preventing growth from falling into further pressure.
2024-12-17