End of Monetary Loosening?

HUNGARY - Forecast 13 Jul 2015 by Istvan Racz

Executive Summary In H2 2015, Hungarian policy-makers will have to reckon with negative global capital market conditions. Stock markets have reached a mature phase of their bull cycle, characterized by frequent and sizeable corrections, and bond markets have passed their cyclical peak. This environment is aggravated by serious uncertainty around the ongoing Greek debt talks, the global and regional negative potential of which should not be underestimated. Fortunately, Hungary’s fundamentals are sufficiently firm to provide forceful protection against any major macroeconomic impact stemming ...

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