BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
Federal Reserve Faces Subpoena Delay Amid Investigation Into Chair Jerome Powell 
Japan Declines Comment on BOJ’s Absence From Global Support Statement for Fed Chair Powell. Source: Asturio Cantabrio, CC BY-SA 4.0, via Wikimedia Commons 
China Holds Loan Prime Rates Steady in January as Market Expectations Align 
Bank of Korea Expected to Hold Interest Rates as Weak Won Limits Policy Easing 
U.S. Prosecutors Investigate Fed Chair Jerome Powell Over Headquarters Renovation 
The huge risk of missing inflation targets is likely to trigger additional monetary easing, at first from the Hungarian central bank at tomorrow's meet (Tue, 22nd Mar). The MNB might tweak and/or deploy unconventional tools, but an explicit rate cut from the current 1.35% is not expected yet.
Annual headline inflation in Hungary was 0.3 percent in February, slowing from 0.9 percent in January mainly on lower fuel and food prices. The medium-term inflation target is 3 percent, with a one percentage point tolerance range on either side.
"The Monetary Council is ready to use all tools to meet its ... inflation target. Rate cuts could be back on the table this year, but the bank would first use more unconventional tools to loosen monetary conditions further," said deputy central bank governor Marton Nagy last week.
