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MNB key policy rate, interest rate of the central bank of Hungary

Charts - historic MNB interest rates

Graph Hungarian interest rate - interest rates last year

Graph Hungarian interest rate - long-term graph

The current Hungarian interest rate (base rate) is 13.000 %

Magyar Nemzeti Bank (MNB)

The central bank of Hungary is called the MNB or Magyar Nemzeti Bank. The main objective of the central bank of Hungary is to achieve and maintain price stability, or a moderate and stable inflation level in line with the EU guidelines and international developments. This is captured in the Central Bank Act. For an overview of current CPI inflation in Hungary, click here. For current inflation in Hungary based upon HICP, click here.

Other tasks of the MNB are:
  • managing the official gold and currency reserves;
  • issuing banknotes and coins (forint);
  • determining and publishing the official exchange rates;
  • improving the stability of the financial system.

MNB key policy rate

When reference is made to the Hungarian interest rate this often refers to the MNB key policy. The most important monetary tool of the MNB is the two-week MNB bill. This base rate acts as a policy rate (key policy rate) which determines the monetary direction. The monetary council determines the level of the key policy rate. Changing the base rate the central bank of Hungary is influencing the 3 month interest rate and the economic direction. These changes are also reflected in the interest rates of commercial bank products like credit or loans, mortgages and savings accounts.

This page shows the current and historic values of the MNB key policy rate.

For a summary of the current interest rates of a large number of central banks please click here.

Tables - current and historic Hungarian central bank interest rates

MNB latest interest rate changes

 change date percentage
 september 27 2022 13.000 %
 august 31 2022 11.750 %
 july 26 2022 10.750 %
 july 07 2022 9.750 %
 june 28 2022 7.750 %
 june 01 2022 5.900 %
 april 26 2022 5.400 %
 march 22 2022 4.400 %
 february 22 2022 3.400 %
 january 25 2022 2.900 %

Summary of other central banks’ interest rates

 central bank interest rate region percentage date
 FED interest rate United States 5.250 % 05-03-2023
 RBA interest rate Australia 4.100 % 06-06-2023
 BACEN interest rate Brazil 13.750 % 08-04-2022
 BoE interest rate Great Britain 4.500 % 05-11-2023
 BOC interest rate Canada 4.750 % 06-07-2023
 PBC interest rate China 3.650 % 08-22-2022
 ECB interest rate Europe 3.750 % 05-04-2023
 BoJ interest rate Japan -0.100 % 02-01-2016
 CBR interest rate Russia 7.500 % 09-16-2022
 SARB interest rate South Africa 8.250 % 05-25-2023

In order to be able to show the data on this page, we make use of a large number of sources of information that we believe to be reliable. For more information and our disclaimer, click here.

American interest rate (Fed)5.25 %05-03-2023
Australian interest rate (RBA)4.10 %06-06-2023
British interest rate (BoE)4.50 %05-11-2023
Canadian interest rate (BOC)4.75 %06-07-2023
European interest rate (ECB)3.75 %05-04-2023
Japanese interest rate (BoJ)-0.10 %02-01-2016
All central banks interest rates, click here
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