{
  "data": {
    "id": "magyar-nemzeti-bank-2026-07-21",
    "bank": "magyar-nemzeti-bank",
    "bankName": "Magyar Nemzeti Bank",
    "country": "HU",
    "date": "2026-07-21",
    "announceAt": null,
    "timezone": "Europe/Budapest",
    "dateStatus": "published",
    "movedFrom": null,
    "rateBefore": 6,
    "step": 0.25,
    "calendarSource": "https://www.mnb.hu/en/monetary-policy/the-monetary-council",
    "citation": "Listed as a policy meeting \"(P)\" on the Monetary Council's 2026 meeting schedule. The schedule gives no time for the decision; the \"2 pm\" on it applies to the minutes.",
    "settleSource": {
      "role": "decision-statement",
      "pattern": "https://www.mnb.hu/en/monetary-policy/the-monetary-council/press-releases/<year>/press-release-on-the-monetary-council-meeting-of-<d>-<month>-<year>",
      "foundAt": "https://www.mnb.hu/en/monetary-policy/the-monetary-council/press-releases/2026",
      "example": "https://www.mnb.hu/en/monetary-policy/the-monetary-council/press-releases/2026/press-release-on-the-monetary-council-meeting-of-22-september-2026",
      "resolvable": true,
      "reads": {
        "right": 6,
        "wrong": 0,
        "void": 0
      }
    },
    "observed": {
      "at": "2026-07-21",
      "rateBefore": 6,
      "rateAfter": 5.75,
      "direction": "cut",
      "statement": "https://www.mnb.hu/en/monetary-policy/the-monetary-council/press-releases/2026/press-release-on-the-monetary-council-meeting-of-21-july-2026",
      "observed": true
    },
    "page": "https://macroindex.org/bank/magyar-nemzeti-bank/decision/2026-07-21",
    "account": {
      "summary": "The Monetary Council cut the base rate by 25 basis points to 5.75%.",
      "vote": "9–0",
      "reasons": [
        "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.",
      "links": [
        {
          "label": "Minutes",
          "url": "https://www.mnb.hu/en/monetary-policy/the-monetary-council/minutes/2026/minutes-of-the-monetary-council-meeting-of-21-july-2026"
        }
      ],
      "readFrom": [
        "https://www.mnb.hu/en/monetary-policy/the-monetary-council/press-releases/2026/press-release-on-the-monetary-council-meeting-of-21-july-2026"
      ],
      "at": "2026-10-10"
    }
  },
  "meta": {
    "dataset_version": "2026-10-10.30752eb2",
    "built_at": "2026-10-10T18:04:32Z",
    "generated_at": "2026-10-10T21:51:20.389Z",
    "licence": "CC BY 4.0: credit \"Macro Index\" and link to the site",
    "docs": "https://macroindex.org/openapi.json"
  }
}