There is a good chance that Hungary's inflation has peaked in January at an annual 25.7% but breaking down inflation requires patience in monetary policy, National Bank of Hungary deputy governor Barnabas Virag told business website napi.hu.

In an interview published on Monday, Virag said the question of reducing the 13% base rate was "not on the horizon", and patience was also crucial with respect to the 18% quick deposit rate which the bank introduced in October 2022 to shore up the forint currency. (Reporting by Krisztina Than)