Forint Heads for Fourth Week of Gains Ahead of ECB Decision

The Hungarian forint headed for its fourth week of gains before a European Central Bank policy announcement on rates today.

The forint strengthened 0.2 percent this week and traded less than 0.1 percent stronger at 280.28 per euro by 10:16 a.m.

ECB President Mario Draghi will speak at a press conference in Frankfurt at 2:30 p.m., after policy makers decide on the benchmark interest rate for the euro area. ECB officials will keep the rate at a record low 0.75 percent, according to 51 of 55 economists in a Bloomberg News survey.

To contact the reporter on this story: Zoltan Simon in Budapest at zsimon@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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