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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 |
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Graph Hungarian interest rate - long-term graph |
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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
| july 21 2020 |
0.600 % |
| june 23 2020 |
0.750 % |
| may 24 2016 |
0.900 % |
| april 27 2016 |
1.050 % |
| march 23 2016 |
1.200 % |
| july 21 2015 |
1.350 % |
| june 23 2015 |
1.500 % |
| may 26 2015 |
1.650 % |
| april 21 2015 |
1.800 % |
| march 24 2015 |
1.950 % |
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Summary of other central banks’ interest rates
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