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Hungary - Base Rate

Hungary's base rate remained at 6.5% in October 2025, unchanged from August 2025. The Hungarian National Bank maintained this rate due to persistent inflation risks. Projections indicate inflation will stay above the 3% target tolerance band for most of 2025. Moderate economic growth forecasts support this steady policy. The MNB's commitment to price stability and a cautious monetary approach, driven by geopolitical and trade tensions, necessitates maintaining tight monetary conditions. Hungary's record low base rate was 0.6% in July 2020 and record high was 28% in February 1995.

Historical Data (1990-2025)

(in %)
Date Base Rate
Oct 21, 2025 6.5%
Aug 26, 2025 6.5%
Jul 22, 2025 6.5%
May 27, 2025 6.5%
Apr 29, 2025 6.5%
Mar 25, 2025 6.5%
Jan 28, 2025 6.5%
Dec 17, 2024 6.5%
Oct 22, 2024 6.5%
Sep 24, 2024 6.5%
Aug 27, 2024 6.75%
Jul 23, 2024 6.75%
Jun 19, 2024 7%
May 21, 2024 7.25%
Apr 23, 2024 7.75%
Mar 26, 2024 8.25%
Feb 27, 2024 9%
Jan 30, 2024 10%
Dec 19, 2023 10.75%
Oct 24, 2023 12.25%
Sep 26, 2023 13%
Aug 29, 2023 13%
Jul 25, 2023 13%
Jun 20, 2023 13%
Apr 25, 2023 13%
Mar 28, 2023 13%
Feb 28, 2023 13%
Jan 24, 2023 13%
Dec 20, 2022 13%
Oct 25, 2022 13%
Sep 27, 2022 13%
Aug 30, 2022 11.75%
Jul 26, 2022 10.75%
Jul 07, 2022 9.75%
Jun 28, 2022 7.75%
May 31, 2022 5.9%
Apr 26, 2022 5.4%
Mar 22, 2022 4.4%
Jan 25, 2022 2.9%
Dec 14, 2021 2.4%
Oct 19, 2021 1.8%
Sep 21, 2021 1.65%
Aug 24, 2021 1.5%
Jul 27, 2021 1.2%
Jun 22, 2021 0.9%
Apr 27, 2021 0.6%
Mar 23, 2021 0.6%
Jan 26, 2021 0.6%
Dec 15, 2020 0.6%
Oct 20, 2020 0.6%
Sep 22, 2020 0.6%
Aug 25, 2020 0.6%
Jul 21, 2020 0.6%
May 26, 2020 0.9%
Apr 28, 2020 0.9%
Apr 07, 2020 0.9%
Mar 24, 2020 0.9%
Feb 25, 2020 0.9%
Jan 28, 2020 0.9%
Dec 17, 2019 0.9%
Oct 22, 2019 0.9%
Sep 24, 2019 0.9%
Aug 27, 2019 0.9%
Jul 23, 2019 0.9%
May 28, 2019 0.9%
Apr 30, 2019 0.9%
Mar 26, 2019 0.9%
Jan 29, 2019 0.9%
Dec 18, 2018 0.9%
Nov 20, 2018 0.9%
Oct 16, 2018 0.9%
Aug 21, 2018 0.9%
Jul 24, 2018 0.9%
Jun 19, 2018 0.9%
Apr 24, 2018 0.9%
Mar 27, 2018 0.9%
Feb 27, 2018 0.9%
Jan 30, 2018 0.9%
Dec 19, 2017 0.9%
Oct 24, 2017 0.9%
Sep 19, 2017 0.9%
Aug 22, 2017 0.9%
Jul 18, 2017 0.9%
May 23, 2017 0.9%
Apr 25, 2017 0.9%
Mar 28, 2017 0.9%
Feb 28, 2017 0.9%
Jan 24, 2017 0.9%
Dec 20, 2016 0.9%
Nov 22, 2016 0.9%
Oct 20, 2016 0.9%
Aug 25, 2016 0.9%
Jul 26, 2016 0.9%
Jun 21, 2016 0.9%
Apr 27, 2016 1.05%
Apr 21, 2016 1.05%
Mar 24, 2016 1.2%
Mar 23, 2016 1.2%
Feb 24, 2016 1.35%
Jan 26, 2016 1.35%
Dec 15, 2015 1.35%
Oct 20, 2015 1.35%
Sep 22, 2015 1.35%
Jul 21, 2015 1.35%
May 26, 2015 1.65%
Apr 21, 2015 1.8%
Mar 24, 2015 1.95%
Jul 22, 2014 2.1%
May 27, 2014 2.4%
Apr 29, 2014 2.5%
Mar 25, 2014 2.6%
Feb 19, 2014 2.7%
Jan 21, 2014 2.85%
Dec 17, 2013 3%
Oct 29, 2013 3.4%
Sep 24, 2013 3.6%
Aug 27, 2013 3.8%
Jul 23, 2013 4%
May 28, 2013 4.5%
Apr 23, 2013 4.75%
Feb 26, 2013 5.25%
Jan 29, 2013 5.5%
Dec 18, 2012 5.75%
Oct 30, 2012 6.25%
Sep 25, 2012 6.5%
Aug 29, 2012 6.75%
Dec 21, 2011 7%
Jan 25, 2011 6%
Dec 21, 2010 5.75%
Apr 27, 2010 5.25%
Mar 30, 2010 5.5%
Feb 23, 2010 5.75%
Jan 26, 2010 6%
Dec 22, 2009 6.25%
Nov 24, 2009 6.5%
Oct 20, 2009 7%
Sep 29, 2009 7.5%
Aug 25, 2009 8%
Jul 28, 2009 8.5%
Jan 20, 2009 9.5%
Dec 09, 2008 10.5%
Nov 25, 2008 11%
Oct 22, 2008 11.5%
May 27, 2008 8.5%
Sep 25, 2007 7.5%
Jun 26, 2007 7.75%
Oct 25, 2006 8%
Aug 29, 2006 7.25%
Jul 25, 2006 6.75%
Jun 20, 2006 6.25%
Sep 20, 2005 6%
Aug 23, 2005 6.25%
Jul 19, 2005 6.75%
May 24, 2005 7.25%
Apr 26, 2005 7.5%
Mar 30, 2005 7.75%
Feb 22, 2005 8.25%
Jan 25, 2005 9%
Dec 21, 2004 9.5%
Nov 23, 2004 10%
Oct 19, 2004 10.5%
Aug 17, 2004 11%
May 04, 2004 11.5%
Mar 23, 2004 12.25%
Nov 28, 2003 12.5%
Jun 19, 2003 9.5%
Jun 11, 2003 7.5%
Jan 17, 2003 6.5%
Dec 17, 2002 8.5%
Nov 19, 2002 9%
Jul 09, 2002 9.5%
May 22, 2002 9%
Feb 19, 2002 8.5%
Jan 08, 2002 9.5%
Dec 11, 2001 9.75%
Nov 13, 2001 10.25%
Oct 25, 2001 10.75%
Sep 10, 2001 11%
Jul 13, 2001 11.25%
Apr 03, 2000 11%
Mar 01, 2000 12%
Jan 20, 2000 13%
Dec 22, 1999 14.5%
Nov 15, 1999 15%
Jun 01, 1999 15.5%
Feb 01, 1999 16%
Dec 15, 1998 17%
Aug 01, 1998 18%
Jun 01, 1998 19%
Apr 08, 1998 19.5%
Feb 01, 1998 20%
Sep 15, 1997 20.5%
Jul 01, 1997 21%
Mar 01, 1997 21.5%
Jan 16, 1997 22.5%
Sep 01, 1996 24.5%
Jul 16, 1996 25.5%
May 01, 1996 26%
Feb 01, 1996 27%
Feb 01, 1995 28%
Jun 15, 1994 25%
Sep 27, 1993 22%
May 03, 1993 19%
Jan 01, 1993 20%
Oct 15, 1992 21%
Oct 15, 1990 22%

Recent Events

datetime event actual previous consensus
2025-10-21 08:00 AM Interest Rate Decision 6.5% 6.5% 6.5%
2025-09-23 08:00 AM Interest Rate Decision 6.5% 6.5% 6.5%
2025-08-26 08:00 AM Interest Rate Decision 6.5% 6.5% 6.5%

Next Release Date :

Hungary - Base Rate : Definition
The Hungary base rate is the key policy interest rate set by the National Bank of Hungary. It acts as a benchmark influencing lending and deposit rates across the Hungarian economy. The central bank adjusts the rate based on its assessment of inflation targets and economic conditions.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio 1.6% 0% Dec'24
Debt to GDP Ratio 73.5% 73% Dec'24
Private Credit (% GDP) 32.41% 32.75% 2024