Geldpolitik: Ungarn geht wichtigen Schritt zur Euro-Einführung: Notenbank passt Inflationsziel an
Seit dem Machtwechsel in Budapest treibt Regierungschef Péter Magyar seinen ambitionierten Plan zur Euro-Einführung voran. Jetzt zieht auch die Notenbank mit.
Frankfurt - Hungary is aggressively moving towards the Euro. After Prime Minister Péter Magyar launched a masterplan for adopting the common currency shortly after his victory over Viktor Orban in April, the central bank is also following suit. The currency overseers announced on Tuesday afternoon that they would lower their inflation target from the current 3.0% to 2.5% by 2028.
Experts view this as a milestone on the challenging path to joining the Euro. Hungary is closely aligning itself with the European Central Bank's (ECB) inflation goal of roughly 2%. The cautious approach and the phased timeline for the first step by 2028 are necessary to prevent banks, companies, and consumers from being overwhelmed, according to DZ Bank analyst Sandra Striffler.
The stricter target for price stability is expected to lead to further interest rate cuts being postponed for now. At Tuesday's meeting, the bank kept its benchmark rate at 5.5%, while the ECB's rate is 2.5%. Notenbank chief Mihaly Varga sees the ongoing reform and the prospect of the Euro as favorable conditions for cheaper loans for the economy and a more stable national currency.
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