Banks › Magyar Nemzeti Bank › History › 24 Mar 2026
Magyar Nemzeti Bank: decision of 24 March 2026
The Monetary Council left the base rate unchanged at 6.25%.
Decision
hold
- Rate
- 6.25%=6.25%
- Change
- 0 bp
- Vote
- 10–0
- Announced
Sources
- Statement
- mnb.hu/en/monetary-policy/the-moneta…
- Minutes
- mnb.hu/en/monetary-policy/the-moneta…
- Inflation Report (March 2026)
- mnb.hu/en/publications/reports/infla…
- Recorded
- 24 Mar 2026
- Data
- JSON
What the bank said
The Council said the conflict in Iran had pushed Brent crude temporarily close to USD 120 a barrel and European gas prices up by more than 70%, significantly raising global inflation risks.
It said inflation fell to 1.4% in February but projected it to rise above the tolerance band from the third quarter of 2026, averaging 3.8% in 2026, before returning to target in the second half of 2027, with mostly upside risks.
The Council said stability of the foreign exchange market was crucial for anchoring expectations, and noted its 10 March decision to meet major foreign exchange liquidity needs for energy imports.
Guidance. The Council said a careful and patient approach remained necessary, tight monetary conditions were warranted, and it would decide on the base rate in a cautious and data-driven manner.
Before and after
- Previous decision: 24 Feb 2026, cut the central bank base rate by 25 bp to 6.25%.
- Next decision: 28 Apr 2026, held the central bank base rate at 6.25%.
- All Magyar Nemzeti Bank decisions and the rate history