NBH Governor Varga says a 25bp cut was the only option discussed, not committed to any rate path and didn't decide on starting a rate-cut cycle

• Careful and patient approach to policy remains necessary.

Governor Varga's remarks indicate a cautious stance from the NBH, highlighting that while a 25bp cut was discussed, there is no commitment to a clear rate path or rate-cut cycle at this stage. This suggests a wait-and-see approach, which may contribute to market uncertainty regarding future monetary policy and impacts on the currency and local rates. Traders should monitor how this sentiment affects overall risk appetite, especially in light of broader market trends.