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Events
Databanks
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Argentina databank Dec 29 -
Brazil Economics databank Jan 20
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Central America databank Dec 19
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Chile databank Nov 28
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China databank Mar 21
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Colombia databank Dec 19
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Dominican Republic databank Dec 23
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Ecuador databank Dec 19
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Gulf Countries databank Jan 16
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Hungary databank Dec 17
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India databank Jun 26
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Mexico databank Jan 15
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Panama databank Nov 12
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Peru databank Dec 12
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Philippines databank Jan 8
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Poland databank Nov 3
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Russia Economics databank Jan 16
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South Africa databank Jan 6
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Turkey databank Dec 24
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Ukraine databank Nov 10
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Venezuela databank Jan 7
NEWS FLASH
UPCOMING WEBINAR - VENEZUELA: WHAT'S NEXT?...
COUNTRY INSIGHTS
Hungary's MOL is set to acquire a majority stake in Serbia's NIS oil refinery
HUNGARY · In Brief · 20 Jan 2026
MOL has just said it signed a binding letter of intent to acquire a 56% controlling stake in Serbia's Nafta Industrija Srbije (NIS) company, which includes the country's only oil refinery at Pancevo, a retail network and a hydrocarbon exploration and production branch. MOL is buying this stake fr...
EU decisions regarding Hungary reportedly postponed until the election
HUNGARY · In Brief · 16 Jan 2026
Early this week, the President of the Republic officially called the parliamentary election for April 12, the earliest legally possible date, in line with long-time expectation, but running counter to some local speculations that PM Orbán may act to postpone the election if developments are not f...
Headline inflation rate down sharply in December, further reduction is likely in Q1
HUNGARY · In Brief · 13 Jan 2026
Headline CPI-inflation was 0.1% mom, 3.3% yoy in December, the latter sharply down from 3.8% yoy in November. Despite the significant move by the yoy rate, this data was no surprise: the median analyst expected exactly this outcome, according to Portfolio.hu, and our own forecast table included 3...
2025 fiscal deficit is much bigger than officially expected... or will it still be in line in the end?
HUNGARY · In Brief · 08 Jan 2026
It has just been reported that the central government's cash deficit ended up at HUF5739bn or 6.6% of GDP in full-year 2025, according to preliminary figures. This means no less than HUF1668bn (an annualised 23.1% of GDP) in December alone, which is quite an impressive sum for a single month, eve...
Attention, friends of convergence trade: Tisza aims at euro introduction in medium term
HUNGARY · In Brief · 06 Jan 2026
It had been claimed by Tisza for a while, more or less superficially, that they would go for the introduction of the euro in Hungary, should they win at the election later this year. However, Tisza held a news conference yesterday, at which Péter Magyar, founder and head of the party, and András ...
New year started with delivery of known fiscal campaign promises
HUNGARY · In Brief · 03 Jan 2026
A Happy New Year to all Readers! Just for the files, all the fiscal campaign measures promised by Fidesz with introduction at the start of 2026 have been indeed duly delivered, as shown by our standard table below: Sources: own compilation and estimates, based mainly on data from the Economy Mini...
Is 390 the current officially preferred EURHUF rate?
HUNGARY · In Brief · 18 Dec 2025
You know, it is a pretty common disease among analysts to see reason even where there is none. So, maybe we have just fallen prey to this pandemic this time. However, there may be still a story, a sort of conscious calculation to manage the EURHUF exchange rate, behind what we have seen most late...
The election race has become tighter
HUNGARY · Report · 17 Dec 2025
Tisza’s lead in the opinion polls has narrowed somewhat over the past month. This was not so much because Tisza might have lost momentum in its campaign, as it has just completed a successful primary vote to select MP candidates and is moving forward towards releasing a policy program by January....
The forward guidance has been changed at today's Monetary Council
HUNGARY · In Brief · 16 Dec 2025
The Council's last regular monthly rate-setting meeting in 2025 was held today. On this occasion, the Q4 inflation report was also discussed, the details of which will be presented by the MNB staff the day after tomorrow. On this occasion, the base rate and the corridor were left unchanged at 6.5...
President Viktor Orbán?
HUNGARY · In Brief · 11 Dec 2025
It looks like the forint market did not like today's Bloomberg article about PM Orbán's possible attempt to strengthen the currently pretty much powerless position of the President of the Republic, planning to take over that position before the election. We think that the presentation of the news...
Good news on consumer inflation in November
HUNGARY · In Brief · 09 Dec 2025
CPI-inflation for November has been reported at 0.1% mom, 3.8% yoy this morning. The year-on-year rate dropped quite substantially, from the previous 4.3%, and it fell into the MNB target range for the first time this year. Non-fuel inflation dropped to 4.6% yoy, i.e. by two decimal points from t...
Fitch Ratings' outlook on their BBB sovereign rating went from Stable to Negative yesterday
HUNGARY · In Brief · 06 Dec 2025
Fitch Ratings held the H2 review of their Hungary sovereign rating yesterday, also ending the late-in-the-year review season for the Top-3 rating agencies as regards 2025. The agency affirmed the government's BBB rating, but changed the outlook to Negative from Stable on this occasion: Fitch attr...
Hungary's supply of Russian crude oil is not affected by recent Ukrainian hit at the Druzhba pipeline
HUNGARY · In Brief · 03 Dec 2025
On December 1, Ukraine hit the Druzhba oil pipeline system once again, causing an explosion and another break in the continuity of oil shipments. Subsequently, reports like the following one have appeared in the media: However, this does not appear to be correct. As widely known, Druzhba indeed t...
Another hurdle passed: Moody's affirmed its Baa2/Negative sovereign credit rating for Hungary
HUNGARY · In Brief · 29 Nov 2025
On Friday, November 28, Moody's affirmed its investment grade credit rating for the Hungarian government, despite fears that a negative rating decision may follow the most recent loosening up of fiscal targets for this year and 2026. There is only one rating review date still scheduled by a Top-3...
Puzzle of the month: Is Hungary exempt and protected?
HUNGARY · Report · 24 Nov 2025
Energy remains a key policy concern. On one hand, gas and oil import prices have fallen non-seasonally in recent weeks, generating a substantial terms-of-trade gain and invaluable support for the balance of payments. On the other hand, new US sanctions against leading Russian energy companies and...