Central bank base rate
The central bank's key rate – loan and deposit rates follow it. The Hungarian National Bank's base rate, daily from 1987 to today.
- Latest
- 5.50%27 Oct 2026
- over one year
- −1.00 pp25 Sep 2024: 6.50%
- Record high
- 28.00%1 Feb 1995
- Record low
- 0.60%22 Jul 2020
- Data since
- 198710.50%
Central bank base rate
What has changed since the change of government?
The latest figure compared with the value when the new government took office – and, for comparison, how the indicator moved over the same length of time before the change. This is a short period: the indicators are also strongly driven by the world economy, earlier decisions and seasonal effects, so changes cannot be attributed to the new government alone.
About this indicator
The base rate is the central bank's main tool against inflation: a higher rate makes borrowing more expensive and usually strengthens the forint. In autumn 2022 the MNB raised the base rate to 13%, the highest in the EU.
The latest figure (27 Oct 2026) is 5.50%, under the Magyar Péter government. The series goes back to 1987; the highest value was 28.00% (1 Feb 1995) and the lowest 0.60% (22 Jul 2020).
Source: BIS / Magyar Nemzeti Bank · Updated: 27 Oct 2026 21:41 UTC · Download data (CSV)
By government
The value when each government took office and when it left (or the latest figure), plus the average during the term.
| Government | At start | At end / now | Change | Average |
|---|---|---|---|---|
Magyar Péter (Tisza)Magyar · 2026–in office | 6.25% | 5.50% | −0.75 pp | 5.69% |
Orbán Viktor (Fidesz)Orbán II–V · 2010–2026 | 5.25% | 6.25% | +1.00 pp | 4.89% |
Bajnai Gordon (MSZP)Bajnai · 2009–2010 | 9.50% | 5.25% | −4.25 pp | 6.63% |
Gyurcsány Ferenc (MSZP)Gyurcsány · 2004–2009 | 11.00% | 9.50% | −1.50 pp | 8.31% |
Medgyessy Péter (MSZP)Medgyessy · 2002–2004 | 9.00% | 11.00% | +2.00 pp | 9.77% |
Orbán Viktor (Fidesz)Orbán I · 1998–2002 | 19.00% | 9.00% | −10.00 pp | 12.28% |
Horn Gyula (MSZP)Horn · 1994–1998 | 25.00% | 19.00% | −6.00 pp | 22.92% |
Boross Péter (MDF)Boross · 1993–1994 | 22.00% | 25.00% | +3.00 pp | 25.00% |
Antall József (MDF)Antall · 1990–1993 | 17.00% | 22.00% | +5.00 pp | 20.83% |
Data table · Year-end values
| Date | Value |
|---|---|
| 27 Oct 2026 | 5.50% |
| 31 Dec 2024 | 6.50% |
| 31 Dec 2023 | 10.75% |
| 31 Dec 2022 | 13.00% |
| 31 Dec 2021 | 2.40% |
| 31 Dec 2020 | 0.60% |
| 31 Dec 2016 | 0.90% |
| 31 Dec 2015 | 1.35% |
| 31 Dec 2014 | 2.10% |
| 31 Dec 2013 | 3.00% |
| 31 Dec 2012 | 5.75% |
| 31 Dec 2011 | 7.00% |
| 31 Dec 2010 | 5.75% |
| 31 Dec 2009 | 6.25% |
| 31 Dec 2008 | 10.00% |
| 31 Dec 2007 | 7.50% |
| 31 Dec 2006 | 8.00% |
| 31 Dec 2005 | 6.00% |
| 31 Dec 2004 | 9.50% |
| 31 Dec 2003 | 12.50% |
| 31 Dec 2002 | 8.50% |
| 31 Dec 2001 | 9.75% |
| 31 Dec 2000 | 11.00% |
| 31 Dec 1999 | 14.50% |
| 31 Dec 1998 | 17.00% |
| 31 Dec 1997 | 20.50% |
| 31 Dec 1996 | 23.00% |
| 31 Dec 1995 | 28.00% |
| 31 Dec 1994 | 25.00% |
| 31 Dec 1993 | 22.00% |
| 31 Dec 1992 | 21.00% |
| 31 Dec 1990 | 22.00% |
| 31 Dec 1989 | 17.00% |
| 31 Dec 1988 | 14.00% |
| 31 Dec 1987 | 10.50% |