Nagy (National Bank of Hungary)


Marton Nagy, deputy governor at National Bank of Hungary, said that interest rates in Hungary can stay at record low levels for longer time than expected. He stated further that potential tightening of the monetary policy by Fed should have muted effected on Hungary. Nagy shared similar opinion on ECB decision, saying that the current 1,35% benchmark rate will be only adjusted basing on internal developments. Although rates will be left unchanged NBH is working on measures to increase market-based lending.
Nagy forecasts GDP to grow by 3% in 2015 and above 2,5% in 2016.