NBH deputy governor: Hungary economy robust
While the tight monetary policy remains, it is moving from the “aggressive” phase to the “gradual”, Virag told the Bankszektor 2022 conference organised by business daily Vilaggazdasag.
Virag augured a “protracted” fight against inflation and said CPI could peak in the third quarter.
He said average annual inflation could be “around 9-10 percent” this year.
At a monthly policy meeting late in April, the central bank’s rate-setters had put average annual inflation “in the upper third” of the 7.5-9.8 percent forecast in the NBH’s latest quarterly Inflation Report.
Hungary’s year-on-year CPI rose to 9.5 percent in April.