Economy
CPI, GDP and other "delicacies" on the menu this week in Hungary (13-16 May)
The Central Statistics Office (KSH) is set to release agricultural and consumer price statistics on Wednesday and Q1 GDP figures, as well as detailed industrial output data on Thursday.
According to Portfolio.hu's poll, inflation continued to trickle down in April. The consensus forecast of analysts showed 6.6% yr/yr CPI for April, down from 6.7% in March.
Projections on growth, however, reflected a completely baffled market, but the majority of the respondents agreed that no further deceleration should be expected, although there are not many countries in the European Union that would trade their own GDP growth for the 2% annual average the analysts projected for Hungary this year.On Friday the Central Statistics Office (KSH) will release data on the number of employees and earnings for March and the central bank is to publish preliminary financial accounts figures for Q1, as well as the minutes of the April rate meeting, where the MPC raised the base rate by 25 bps to 8.25%. The move, following a 50-bp monetary tightening in March, clearly signalled that the NBH stepped on a rate hike path in a bid to achieve its inflation goal.13 May, Tuesday
11:30 Auction of 3-month discount Treasury bill (D080821) - Government Debt Management Agency (ÁKK)
Offered amount: HUF 40 bn
Previous auction - Bids: HUF 48.4 bn; Average yield: 8.45%
14:00 Monetary Council non-rate-setting meeting
14 May, Wednesday
09:00 Consumer prices, April - Central Statistics Office (KSH)
Previous: 6.7% yr/yr; Forecast 6.6% yr/yr
09:00 Agricultural prices, January-March - Central Statistics Office (KSH)
11:30 Auction of 6-month discount Treasury bill (D081119) - Government Debt Management Agency (ÁKK)
Offered amount: HUF 25 bn
Previous auction - Bids: HUF 61.4 bn; Average yield: 8.72%
15 May, Thursday
09:00 Monetary financial institution loans to non-financial corporations - National Bank of Hungary (NBH)
09:00 GDP, January-March (prelim) - Central Statistics Office (KSH)
Forecast: +1.2% yr/yr; Previous: +0.7% yr/yr
09:00 Industry, March (detailed) - Central Statistics Office (KSH)
Previous: +4.3% yr/yr
11:30 Auction of 12-month discount Treasury bill (D090408) - Government Debt Management Agency (ÁKK)
Offered amount: HUF 40 bn
Previous auction - Bids: HUF 84.5 bn; Average yield: 9.07%
16 May, Friday
09:00 Number of employees and earnings in the national economy, January-March - Central Statistics Office (KSH)
09:00 Preliminary financial accounts, Q1 - NBH
14:00 Minutes of the April MPC rate setting meeting
According to Portfolio.hu's poll, inflation continued to trickle down in April. The consensus forecast of analysts showed 6.6% yr/yr CPI for April, down from 6.7% in March.
Projections on growth, however, reflected a completely baffled market, but the majority of the respondents agreed that no further deceleration should be expected, although there are not many countries in the European Union that would trade their own GDP growth for the 2% annual average the analysts projected for Hungary this year.On Friday the Central Statistics Office (KSH) will release data on the number of employees and earnings for March and the central bank is to publish preliminary financial accounts figures for Q1, as well as the minutes of the April rate meeting, where the MPC raised the base rate by 25 bps to 8.25%. The move, following a 50-bp monetary tightening in March, clearly signalled that the NBH stepped on a rate hike path in a bid to achieve its inflation goal.13 May, Tuesday
11:30 Auction of 3-month discount Treasury bill (D080821) - Government Debt Management Agency (ÁKK)
Offered amount: HUF 40 bn
Previous auction - Bids: HUF 48.4 bn; Average yield: 8.45%
14:00 Monetary Council non-rate-setting meeting
14 May, Wednesday
09:00 Consumer prices, April - Central Statistics Office (KSH)
Previous: 6.7% yr/yr; Forecast 6.6% yr/yr
09:00 Agricultural prices, January-March - Central Statistics Office (KSH)
11:30 Auction of 6-month discount Treasury bill (D081119) - Government Debt Management Agency (ÁKK)
Offered amount: HUF 25 bn
Previous auction - Bids: HUF 61.4 bn; Average yield: 8.72%
15 May, Thursday
09:00 Monetary financial institution loans to non-financial corporations - National Bank of Hungary (NBH)
09:00 GDP, January-March (prelim) - Central Statistics Office (KSH)
Forecast: +1.2% yr/yr; Previous: +0.7% yr/yr
09:00 Industry, March (detailed) - Central Statistics Office (KSH)
Previous: +4.3% yr/yr
11:30 Auction of 12-month discount Treasury bill (D090408) - Government Debt Management Agency (ÁKK)
Offered amount: HUF 40 bn
Previous auction - Bids: HUF 84.5 bn; Average yield: 9.07%
16 May, Friday
09:00 Number of employees and earnings in the national economy, January-March - Central Statistics Office (KSH)
09:00 Preliminary financial accounts, Q1 - NBH
14:00 Minutes of the April MPC rate setting meeting
