Hungary’s Takarekbank expects the local economy to grow by a real 0.7% y/y in 2013, keeping the estimate unchanged from its previous forecast in June 2013, MTI news agency reported. The forecast is in line with the government's expectations. The country's GDP growth is expected to accelerate to 1.7% y/y in 2014.
Takarekbank has revised its projection for the annual average inflation in 2013 to 1.9% from previously expected 2%. It also cut next year's projection to 1.7% from 2.9%. The revision reflects the cabinet’s decision to reduce household gas, electricity and district heating prices.
Referring to monetary policy, Takarekbank expressed a view that the central bank could cut the base rate to 3.50% from current 3.80% without any serious risk to the forint's exchange rate or financial stability. The ease, however, could only take place if the sentiment on the global markets continues to improve.
Facebook has reversed its decision and restored a video posted by Janos Lazar, head of Viktor Orban's Prime Minister's Office, in which he allegedly made racists comments while walking around a ... more
An independent candidate backed by opposition parties scored a stunning upset at a mayoral by-election in the town of Hodmezovasarhely, a Fidesz stronghold, on February 25, in a vote widely perceived ... more
A survey has found that most Czechs remain positive towards Europe, with 54% of respondents saying they would like to stay in the European Union and 34% stating they would be in favour of a ... more