Hungary interest rate
Hungarian National Bank
- Policy rate
- 5.50%
- Sep 16, 2026
- Last move
- −0.25 pt
- Aug 2026
- Inflation
- 1.3%
- Aug 2026
- 10-year bond yield
- 5.46%
- Aug 2026
The policy rate set by the Hungarian National Bank is 5.50% as of Sep 16, 2026. Its most recent move: it cut its rate from 5.75% to 5.50% (Aug 2026). The rate is 1.00 percentage points lower than a year earlier. With consumer prices up 1.3% over the 12 months to Aug 2026, the real rate (policy rate minus inflation) is +4.2%: borrowing costs are above inflation.
Policy rate over the past two years
Sep 16, 2026: 5.50%
Rate changes
| When | Decision | From | To | Change |
|---|---|---|---|---|
| Aug 2026 | Cut | 5.75% | 5.50% | −0.25 pt |
| Jul 2026 | Cut | 6.25% | 5.75% | −0.50 pt |
| Feb 2026 | Cut | 6.50% | 6.25% | −0.25 pt |
| Sep 2024 | Cut | 6.75% | 6.50% | −0.25 pt |
Changes between month-end rates, plus the latest daily reading. Two decisions in one month show up as a single change.
Inflation (% vs a year earlier)
Aug 2026: 1.3%
10-year government bond yield
Aug 2026: 5.46%
Other central banks in Europe
Source: BIS; inflation: IMF CPI; bond yield: OECD. Updated daily. All central bank rates · Hungary economy dashboard