MNI CEEMEA Week Ahead - NBP Rate Decision, Hungary CPI

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Our CEEMEA Week Ahead document highlights the major data releases, political events, bond auctions and option expiries scheduled across CEEMEA next week.

• The NBP rate decision on Wednesday provides the key highlight across the CEEMEA region, with Governor Adam Glapinski’s previous forward guidance indicating that the central bank will likely pause policy action and move into a ‘wait-and-see’ mode at the start of 2026 before considering further easing.
• In Hungary, headline CPI inflation is expected to slow substantially as strong and favourable base effects kick in. Inflation is expected to decline further to below the 3% target in the early months of 2026 before rising back towards the 4% upper limit of the central bank’s tolerance range thereafter.
• Final December CPI figures from both Poland and Czechia are also due following the softer-than-expected preliminary prints earlier in the month.