Banks › Magyar Nemzeti Bank › History › 24 Feb 2026
Magyar Nemzeti Bank: decision of 24 February 2026
The Monetary Council cut the base rate by 25 basis points to 6.25%, its first change since September 2024.
Decision
cut
- Rate
- 6.50%↓6.25%
- Change
- −25 bp
- Vote
- unanimous
- Announced
Sources
- Statement
- mnb.hu/en/monetary-policy/the-moneta…
- Minutes
- mnb.hu/en/monetary-policy/the-moneta…
- Recorded
- 24 Feb 2026
- Data
- JSON
What the bank said
The Council said inflation fell to 2.1% and core inflation to 2.7% in January 2026, with January repricing in market services at its lowest level in recent years.
It said favourable developments in underlying inflation and the stability of financial markets allowed a cautious reduction in interest rates, while real interest rates would stay positive.
The MNB forecast inflation below the 3% target in the coming months before a temporary rise close to the upper bound of the tolerance band, with the target reached sustainably in the second half of 2027.
Guidance. The Council said price stability could be achieved through tight monetary conditions and that it would decide on the base rate cautiously and in a data-driven manner from meeting to meeting.
Before and after
- Previous decision: 27 Jan 2026, held the central bank base rate at 6.50%.
- Next decision: 24 Mar 2026, held the central bank base rate at 6.25%.
- All Magyar Nemzeti Bank decisions and the rate history