Orbán: Low-earning Parents Could Reclaim 2021 PIT if Economic Growth Reaches 5.5%
Monetary policy is set to shift towards a more hawkish stance as early as June, with a possible hike in the base rate, György Matolcsy, the governor of the National Bank of Hungary (MNB), told a conference on Wednesday. Meanwhile, the Prime Minister spoke of further tax cuts for SMEs and families and a potential hike of the minimum wage.
A persistent rise in inflation would endanger the recovery, he said.
The Hungarian economy can withstand a rate hike, the governor said, adding that given the risk to the economy posed by inflation, the Monetary Council is compelled to raise interest rates.