CEE FX: Hungary budget and Turkey cuts – ING
ING’s Frantisek Taborsky highlights Hungary’s draft budget as key for regional bonds, with much optimism already priced on a deficit below 5% of GDP. He expects the National Bank of Hungary to keep rates at 5.50%, the Central Bank of Turkey to resume cuts to 36.00%, and EUR/RON to stabilise around 5.340, while another Czech rate hike is seen in November.
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