Hungarians are voting in a general election, with Prime Minister Viktor Orban set to extend his rule after four years of rule during which his power centralization triggered clashes with the European Union.
Hungarians head to the polls today in a general election, with Prime Minister Viktor Orban leading opinion polls after four years of rule during which his power centralization triggered clashes with the European Union.
Hungarian Prime Minister Viktor Orban, whose centralization of power triggered confrontations with the European Union over the past four years, is set for an election victory that may silence critics at home and abroad.
Hungarian Prime Minister Viktor Orban, who polls show is on the verge of winning re-election, undercut the bond market rally in his first term by surprising traders with moves including the seizure of pension assets.
Hungary needs a stronger forint because the current rate endangers foreign-currency borrowers, said Attila Mesterhazy, the leader of the opposition alliance preparing for the country’s April 6 general election.
Hungary is winding down interest- rate reductions after 20 straight months of cuts as contagion from neighboring Ukraine left the nation’s bonds the worst emerging-market debt after Russia and Turkey this year.
Hungary’s central bank is ready to end Europe’s longest-running uninterrupted monetary easing cycle if financial conditions deteriorate, policy makers said after cutting the benchmark interest rate to a new record.
The forint will probably drop to a two-year low after Hungary’s central bank cut interest rates to a record, pushing bond yields to a level that doesn’t compensate investors for currency risk, Goldman Sachs Group Inc. said.
Hungary is planning to tap international bond markets again this year as the U.S. Federal Reserve’s decision to maintain monetary stimulus helps boost demand for debt, Economy Minister Mihaly Varga said.