The National Bank of Hungary cut its benchmark interest rate by 25 basis points to 6.25% at its February 2026 meeting, as markets expected, marking its first rate cut in nearly 18 months. Annual headline inflation fell to 2.1% from 3.3% the prior month, dipping below the central bank’s 3% target for the first time in five years. Services inflation, which Governor Mihaly Varga has called “decisive” for monetary easing, eased to 5%. Investors will now watch for signals on whether this cut signals the start of a broader easing cycle. source: National Bank of Hungary

The benchmark interest rate in Hungary was last recorded at 6.25 percent. Interest Rate in Hungary averaged 10.58 percent from 1987 until 2026, reaching an all time high of 28.00 percent in January of 1995 and a record low of 0.60 percent in July of 2020. This page provides the latest reported value for - Hungary Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hungary Base Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.

The benchmark interest rate in Hungary was last recorded at 6.25 percent. Interest Rate in Hungary is expected to be 6.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hungary Base Rate is projected to trend around 4.50 percent in 2027 and 4.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-16 01:00 PM Interest Rate Decision 6.5% 6.5% 6.5% 6.5%
2026-01-27 01:00 PM Interest Rate Decision 6.5% 6.5% 6.5% 6.5%
2026-02-24 01:00 PM Interest Rate Decision 6.25% 6.5% 6.25% 6.25%
2026-03-24 01:00 PM Interest Rate Decision 6.25% 6.0%
2026-04-28 12:00 PM Interest Rate Decision
2026-05-26 12:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Cash Reserve Ratio 8.00 8.00 percent Jan 2026
Central Bank Balance Sheet 28616.45 26484.57 HUF Billion Jan 2026
Deposit Interest Rate 5.25 5.50 percent Feb 2026
Foreign Exchange Reserves 56773.30 50243.10 EUR Million Jan 2026
Interbank Rate 6.15 6.15 percent Feb 2026
Interest Rate 6.25 6.50 percent Feb 2026
Interest Rate 6.25 6.50 percent Feb 2026
Loans to Private Sector 13611.20 13261.10 HUF Billion Dec 2025
Money Supply M0 18057.70 18075.20 HUF Billion Jan 2026
Money Supply M1 35568.70 35023.70 HUF Billion Dec 2025
Money Supply M2 46154.70 45498.10 HUF Billion Dec 2025
Money Supply M3 48969.10 48348.40 HUF Billion Dec 2025


Hungary Base Rate
In Hungary, interest rates decisions are taken by the Monetary Council of the Hungarian National Bank (Magyar Nemzeti Bank). The main interest rate is the base rate.
Actual Previous Highest Lowest Dates Unit Frequency
6.25 6.50 28.00 0.60 1987 - 2026 percent Daily
NSA

News Stream
Hungary Cuts Key Interest Rate as Inflation Falls
The National Bank of Hungary cut its benchmark interest rate by 25 basis points to 6.25% at its February 2026 meeting, as markets expected, marking its first rate cut in nearly 18 months. Annual headline inflation fell to 2.1% from 3.3% the prior month, dipping below the central bank’s 3% target for the first time in five years. Services inflation, which Governor Mihaly Varga has called “decisive” for monetary easing, eased to 5%. Investors will now watch for signals on whether this cut signals the start of a broader easing cycle.
2026-02-24
Hungary Holds Rate Unchanged at 6.5%
The National Bank of Hungary kept its key interest rate at 6.5% in its January 2026 meeting, as expected by markets, to maintain the cutting cycle that ended in September of 2024. The unchanged monetary policy setting was despite its guidance change in the previous meeting, which dropped the rhetoric of ruling out rate cuts to signaling it will make decisions on a meeting-by-meeting basis. The latest data showed that inflation slowed to a 14-month low of 3.3% in December, close to the mid-point of the NBU's target range of 3%. Still, services inflation in the period soared to 6.8%, paring the outlook of imminent cuts for the central bank.
2026-01-27
Hungary Keeps Rates Steady for 15th Meeting
The National Bank of Hungary kept its key interest rate at 6.50%, extending its pause for a 15th straight meeting, in line with market expectations. This tied Romania for the highest level in the EU. Headline inflation fell to a 1-year low of 3.8%, entering the 3% ±1 percentage point target range for the first time in a year, aided by a stronger forint and the decline in global commodity and food prices. The bank trimmed its 2026 inflation forecast to 3.2% from 3.8% and lowered its GDP growth projection for the same year to 2.4% from 2.8%, citing a dual-speed economy, with robust private consumption offsetting weaker investment and net exports. Tightness in the labor market has moderated in recent quarters, though unemployment remains near historical lows. On the global front, economic growth has shown modest improvement, though lingering trade and geopolitical tensions pose risks. The MNB signaled that monetary easing could be considered if inflation and exchange rate dynamics permit.
2025-12-16