Banks › Magyar Nemzeti Bank › History › 21 Jul 2026
Magyar Nemzeti Bank: decision of 21 July 2026
The Monetary Council cut the base rate by 25 basis points to 5.75%.
Decision
cut
- Rate
- 6.00%↓5.75%
- Change
- −25 bp
- Vote
- 9–0
- Announced
Sources
- Statement
- mnb.hu/en/monetary-policy/the-moneta…
- Minutes
- mnb.hu/en/monetary-policy/the-moneta…
- Recorded
- 21 Jul 2026
- Data
- JSON
What the bank said
The Council said inflation fell to 1.7% in June, below its expectations and the June Inflation Report forecast, while core inflation stayed at 2.0%.
It said more favourable inflation and a persistently lower risk premium on Hungarian assets preserved its room for manoeuvre.
The Council said renewed tension between the United States and Iran had pushed oil and European gas prices higher in recent weeks.
Guidance. The Council said that if favourable developments persist it sees room to lower the base rate further throughout the summer, with continuation to be decided on the basis of the September Inflation Report.
Before and after
- Previous decision: 23 Jun 2026, cut the central bank base rate by 25 bp to 6.00%.
- Next decision: 25 Aug 2026, cut the central bank base rate by 25 bp to 5.50%.
- All Magyar Nemzeti Bank decisions and the rate history