The beginning of the week can still be quiet on Monday only the German IFO economic sentiment index can be highlighted from the calendar. Of course, we saw on Friday that a market panic can start in the European banking sector at any time, and now Deutsche Bank is on the table.
| March 27 – April 2, 2023 macro calendar | ||||||
| Hungarian macroeconomics | ||||||
| March | 28. | Tuesday | 8:30 a.m | KSH | I’m asking | Jan. |
| March | 28. | Tuesday | 8:30 a.m | MNB | Household loans | Q4 |
| March | 28. | Tuesday | 8:30 a.m | MNB | Balance of payments | Q4 |
| March | 28. | Tuesday | 11:30 a.m | AKK | 3-month dkj auction | |
| March | 28. | Tuesday | 14:00 | MNB | Interest rate decision | |
| March | 28. | Tuesday | 15:00 | MNB | Announcement | |
| March | 30. | Thursday | 10:00 a.m | MNB | Inflation report | |
| March | 31. | Friday | 8:30 a.m | MNB | Financial accounts | Q4 |
| March | 31. | Friday | 8:30 a.m | KSH | Foreign trade (second estimate) | Jan. |
| March | 31. | Friday | 8:30 a.m | KSH | Industrial producer prices | Feb. |
| March | 31. | Friday | 8:30 a.m | KSH | People’s movement | Feb. |
| International macroeconomics | ||||||
| March | 27. | Monday | 10:00 a.m | German. | IFO index | Mar. |
| March | 28. | Tuesday | 2:30 p.m | USA | Foreign trade | Feb. |
| March | 30. | Thursday | 14:00 | German. | Inflation (preliminary) | Mar. |
| March | 30. | Thursday | 2:30 p.m | USA | GDP (revised) | Q4 |
| March | 31. | Friday | 3:00 a.m | China | Purchasing Manager Index | Mar. |
| March | 31. | Friday | 8:00 a.m | German. | Retail trade | Feb. |
| March | 31. | Friday | 8:45 a.m | French. | Inflation (preliminary) | Mar. |
| March | 31. | Friday | 11:00 a.m | EU | Inflation (preliminary) | Mar. |
| March | 31. | Friday | 2:30 p.m | USA | PCE inflation | Feb. |
| Source: Portfolio collection | ||||||
On Tuesday on the other hand, the usual interest rate decision meeting of the MNB is coming, and the Monetary Council is also discussing the latest inflation and GDP forecast this time. There is no need to expect a significant change in these, rather what may be important is how the central bank evaluates the developments of the last few weeks in relation to the American and European banking sector. Two medium-sized banks went bankrupt overseas, and investors feared the spread of the infection in Europe. In the case of Credit Suisse, a state rescue package and takeover was already necessary, and at the end of last week, Deutsche Bank became the target of investors. The question is how these developments can influence the decisions of the Monetary Council. Also on Tuesday, the fourth-quarter statistics of the balance of payments and household loans will be published.
THE Wednesday day may be quieter again, there will be no noteworthy macro data either at home or abroad. On Thursday then the already mentioned central bank inflation report is expected to appear, and the German inflation data is also worth mentioning, since the third revision of the American GDP statistics is not expected to contain much new information.
The last working day of the week won’t be boring either, as here, in addition to the fourth quarter data on financial accounts, some statistics are also coming from the KSH Friday morning. Abroad, in addition to the preliminary inflation data of the Eurozone, the US PCE inflation will still be February.
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