Forint Sinks as Orban Cabinet Boosts Hungary Rate-Cut Demand

The forint sank after Hungarian Prime Minister Viktor Orban’s government raised pressure on the central bank to cut interest rates and help kickstart an ailing economy six months out from elections.

Economy Minister Marton Nagy said that the National Bank of Hungary’s 6.5% benchmark — on par with Romania for the European Union’s highest key rate — was too high and that policymakers had room to begin lowering it without hurting the forint.