*

Hungarian base rate expected to stay unchanged at 13%

*

South African stocks hit record high

*

Sri Lanka hopes to finish debt restructuring in 6 months

*

EM stocks and FX flat

Jan 24 (Reuters) - The Hungarian forint eased on Tuesday ahead of a National Bank of Hungary announcement which is expected to leave its base rate unchanged, while other emerging market currencies were muted against a soft dollar.

MSCI's index for emerging market currencies was flat at 0815 GMT, while the forint slipped 0.1% against the euro.

Hungary's central bank is expected to leave its base rate unchanged at 13%, the highest in the European Union, according to a Reuters poll, due to persistent inflation pressures that are only expected to ease substantially in the second half of 2023.

"It's too early for them to start to soften their tight policy that was put in place last October really to support the forint," said Chris Turner, ING's global head of markets.

"There are people starting to price in the easing cycle, but we think that's a bit premature."

The forint slid 0.7% in the previous session after Fitch revised its outlook on Hungary's debt rating to negative from stable.

Other central and eastern European currencies edged down against the euro in early trading.

Nigeria's central bank rate decision is also expected later in the day as authorities try to rein in inflation, which is at its highest level in nearly two decades.

Emerging market stocks were subdued, with trading largely muted as many Asian markets remained closed for Lunar New Year celebrations, including mainland China, Singapore, South Korea and Malaysia.

Stocks in South Africa rose 0.6% to a fresh record high.

The rand, meanwhile, fell 0.4%, with investors cautious ahead of a central bank's decision on monetary policy on Thursday.

Turkey's lira edged up against a weakened dollar, while the Russian rouble added 0.3%.

Elsewhere in emerging markets, Sri Lanka's central bank chief said the island nation was hopeful of completing debt restructuring negotiations in the next six months.

Ghana's government and the Ghana Association of Banks (GAB) have agreed on new terms for banks to participate in a domestic debt exchange plan, as the crisis-hit nation scrambles to restructure its mountain of debt in order to access a relief package from the International Monetary Fund. For GRAPHIC on emerging market FX performance in 2022, see http://tmsnrt.rs/2egbfVh For GRAPHIC on MSCI emerging index performance in 2022, see https://tmsnrt.rs/2OusNdX

For TOP NEWS across emerging markets

For CENTRAL EUROPE market report, see

For TURKISH market report, see

For RUSSIAN market report, see (Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Alexander Smith)