Hungary Interest Rate

Last Release

Jan 28, 2025

Actual

6.5

Units In

6.5

Frequency

Daily

Next Release

Feb 25, 2025

Time to Release

26 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
28 Jan 1995	0.6 Jul 2020	10.71 %	1987-2025	National Bank of Hungary

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 central bank base rate on refinancing credit maturing over one year that the Central Bank lends to financial institutions.

Latest Updates

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.