INSUBCONTINENT EXCLUSIVE:
By Marton Eder and Zoltan SimonWrite off inflation at your peril.
Even in a world where more than a decade of ultra-low interest rates has
told a conference in Budapest in October that inflation was effectively dead globally and near-zero borrowing costs were here to stay
January, the most in seven years and way above the official 3% target
more without touching its official benchmark, which at 0.9% is still 30 basis points above interbank rates.
BloombergMajor monetary-policy
decisions are usually only taken once a quarter, the next possible time coming in March
But the bank holds monthly meetings, with another set for Tuesday, when its statement will be scrutinized for evidence of a shift in
predict.
And Nagy, who despite being just 43 has worked at the central bank for 18 years, has been right in the past to the extent that his
colleagues invariably voted with him on big decisions.
In slashing interest rates, he correctly predicted inflation would also ease
