HUNGARY: MNI NBH Review – November 2025
Nov-19 10:16
- The November MPC meeting offered no surprises, with both the 6.50% base rate and the Bank’s hawkish guidance unchanged.
- Governor Mihaly Varga explicitly stated that the monetary council's forward guidance has not changed, stressing the need for tight monetary policy in the interest of FX stability.
- Given the overwhelming consensus for the maintenance of the status quo, risks were skewed towards the dovish side headed into this meeting.
See our full review, with a summary of analyst views, here.
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LOOK AHEAD: Monday Data Calendar
Oct-20 10:15
Monday's Leading Index suspended until Federal data is released. Federal Reserve in blackout.
- US Data/Speaker Calendar (prior, estimate)
- 10/20 1130 US Tsy $86B 13W & $77B 26W bill auctions
- Source: Bloomberg Finance L.P. / MNI
JAPAN: Coalition Agreement Shows Prioritization of Political Stability
Oct-20 10:09
First comments from LDP leader as her party forges a coalition deal with Ishin shows that political stability is to be a priority, but stops well short of detailing any major fiscal measures, noting that the "funding issue not likely finalized this Diet session".
Instead, the coalition deal details the following the as the first policies under the new LDP-Ishin coalition:
- Restarting nuclear reactors
- Cutting the number of parliamentary seats
- Use of fiscal policy to boost investment
- Upcoming Diet session to be "about the economy"
- Ad-hoc policy coordination between coalition partners
EQUITY OPTIONS: Large outright BNP Put seller
Oct-20 10:07
BNP (19th Dec) 60p, sold at 1.15 in 16k.
