Forint spikes then reverses after Varga remarks; finance ministry ends rate-cut cycle, lowers inflation target

The forint strengthened sharply after finance minister Mihály Varga spoke, then quickly reversed, while the Budapest stock exchange fell with Richter leading losses. Varga's ministry ended its rate-cut cycle, holding the base rate, and lowered the inflation target for the first time in twenty years, alongside a gloomier outlook.

Detected & updated continuously · Source: Nebula