Laddar...

Advertisement

Hungary Tightens Monetary Policy To Combat High Inflation, External Pressures

RTTNews | 1048 dagar sedan

Hungary Tightens Monetary Policy To Combat High Inflation, External Pressures

(RTTNews) - Hungary's central bank took extraordinary measures on Friday to support the weakening forint after Prime Minister Viktor Orban urged the finance minister and the central bank governor to curb inflation that hit a 26-year high in September.

The Monetary Council of the National Bank of Hungary decided to raise the upper bound of the interest rate corridor, leaving the base rate unchanged at 13.0 percent.

The monetary council raised the overnight collateralised lending rate by 950 basis points to 25.0 percent and suspended the one-week collateralised loan with immediate effect.

The bank also announced a one-day foreign exchange swap instrument and overnight (O/N) deposit quick tenders on a daily basis at higher interest rate levels than before.

The bank also committed to meet foreign currency liquidity needs of energy imports in coming months.

The central bank said it stands ready to intervene using every instrument in its monetary policy toolkit to ensure market stability in addition to its primary objective of price stability.

The forint advanced more than 2 percent against the euro after the central bank announcement.

Although this decision by the central bank will add a bit more complexity to the monetary policy setup, these measures are adequate answers to the temporary challenges which the local financial markets are facing, ING economist Peter Virovacz said.

The economist expects the Hungarian forint to stabilize, and with the new liquidity measures reaching full impact the currency will gradually strengthen with a major boost coming with a positive EU decision close to the year-end.

Earlier on Friday, Prime Minister Orban asked finance minister and central bank Governor Gyorgy Matolcsy to halve the inflation rate by the end of next year.

Consumer price inflation had exceeded 20.0 percent in September for the first time since 1996. Inflation has remained above the target range of 2-4 percent since March 2021.

Citing high inflation, the central bank has raised the key interest rate in every policy session since June last year.

Taggar: HUF

read more

Hungary Holds Base Rate Steady At 13%, Slashes Lending Rate By 450 Bps

Hungary Holds Base Rate Steady At 13%, Slashes Lending Rate By 450 Bps

The Hungarian central bank left its key interest rate unchanged on Tuesday, but slashed the overnight lending rate, which was raised significantly in October last year amid the financial market turbulence, as policymakers assessed that the inflation risks are manageable and the financial market concerns have subsided.

RTTNews | 855 dagar sedan

Bay Street Likely To Open On Positive Note

Bay Street Likely To Open On Positive Note

Canadian shares are likely to open on a positive note on Wednesday, riding on strong earnings from Royal Bank of Canada and National Bank of Canada. Weak commodity prices and concerns on the geopolitical and tariffs front may weigh limit market's upside.

RTTNews | 29 minuter sedan

European Stocks Turning In Mixed Performance

European Stocks Turning In Mixed Performance

European stocks are turning in a mixed performance on Wednesday as political uncertainty in France, and a lack of any significant positive triggers render the mood cautious. Investors are also awaiting earnings updates from AI major NVIDIA.

RTTNews | 56 minuter sedan

FTSE 100 Flat In Lackluster Trade; Bank Stocks Drifting Lower

FTSE 100 Flat In Lackluster Trade; Bank Stocks Drifting Lower

U.K. stocks are somewhat subdued in lackluster trade on Wednesday as investors remain a bit reluctant to make significant moves due to a lack of triggers. The benchmark FTSE 100 was at 9,266.25 a little before noon, up 0.45 points over previous close.

RTTNews | 1h 46minuter sedan

CAC 40 Advances After Recent Losses

CAC 40 Advances After Recent Losses

Despite the uncertainty on the political front, the French market is up in positive territory on Wednesday due largely to some bargain hunting at several counters after two successive days of declines. Investors are also looking ahead to AI giant Nvidia's earnings updates.

RTTNews | 2h 0minuter sedan

DAX Remains Weak Despite Paring Some Early Losses

DAX Remains Weak Despite Paring Some Early Losses

German stocks are down in negative territory in cautious trade on Wednesday amid political uncertainty in France ahead of a confidence vote early next month, and anxiety ahead of Nvidia's earnings for clues on the AI trade.

RTTNews | 2h 17minuter sedan

Mixed Sentiment In Asian Markets

Mixed Sentiment In Asian Markets

Asian markets moved in a mixed fashion on Wednesday amidst anxiety ahead of release of earnings update by chip-giant NVIDIA.

RTTNews | 2h 27minuter sedan

Euro Falls Against Majors

Euro Falls Against Majors

The euro weakened against other major currencies in the European session on Wednesday.

RTTNews | 2h 29minuter sedan

Villkor | Integritet | Webbkarta | Site Map Calendar

© 2025 Myfxbook Ltd. Alla rättigheter reserverade

HIGH RISK WARNING: Valutahandel innebär en hög risknivå som kanske inte är lämplig för alla investerare. Hävstångseffekten skapar ytterligare risker och förlustexponering. Innan du bestämmer dig för att handla med utländsk valuta bör du noga överväga dina investeringsmål, din erfarenhetsnivå och din risktolerans. Du kan förlora en del av eller hela din ursprungliga investering. Investera inte pengar som du inte har råd att förlora. Utbilda dig om de risker som är förknippade med valutahandel och sök råd från en oberoende finansiell eller skatterådgivare om du har några frågor. Alla uppgifter och all information tillhandahålls endast i informationssyfte och är inte avsedda för handelsändamål eller rådgivning. Tidigare resultat är inte en indikation på framtida resultat.