The central bank of Hungary maintains the base interest rate at 6.5% and continues a tight monetary policy to stabilize the financial market, aiming for a sustainable CPI target of 3%.
The decision was made in the context of uncertain inflation prospects. The operator emphasized that decisions will be made based on data at each meeting and may consider increasing the gold share in reserves, while also noting that a stronger forint helps curb the rise in import prices.
MAIN CONTENT
Maintain the base interest rate at 6.5%, continuing the tightening policy.
Commit to a CPI target of 3% and decisions based on data from each meeting.
May increase the gold allocation; gold reserves of 110 tons, accounting for 25.5% of foreign exchange reserves.
Interest rate decisions and policy direction
The central bank of Hungary keeps the benchmark interest rate at 6.5% and continues the tightening monetary policy to maintain financial market stability, while sustainably aiming for a CPI of 3%.
This agency stated that there remains uncertainty about the inflation outlook. Therefore, interest rate decisions will be considered carefully and based on data at each meeting, rather than committing to a fixed path.
In the assessment of the transmission channel, Governor Varga mentioned that the appreciation of the forint helps limit the increase in import prices, thereby supporting the control of domestic inflation.
Signal to consider increasing the gold allocation in reserves
Governor Varga stated that Hungary may consider raising the gold allocation in the central bank's reserves.
According to the latest data from the World Gold Council published in January, as of November 2025, Hungary's gold reserves are 110 tons, equivalent to 25.5% of foreign exchange reserves. The statement regarding the consideration of increasing the gold allocation occurs simultaneously with the tightening policy stance and the CPI target of 3%.
Source: https://tintucbitcoin.com/thong-doc-hungary-can-nhac-tang-du-tru-vang/
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