Currency

The Monetary Council Reduced the Central Bank Base Rate by 25 Basis Points to 5.75 pct

At its meeting on February 22, the Monetary Council reviewed the latest economic and financial developments and voted to reduce the central bank base rate by 25 basis points from 6.00 pct to 5.75 pct, with effect from  February 23, 2010.


Bank Association Head Sees Growing Attractiveness of Forint Loans

Forint loans could become more attractive than foreign currency-based loans in Hungary if the National Bank of Hungary cuts the base rate to 5.0–5.5 pct by year-end, as expected, Hungarian Bank Association chief Tamás Erdei said in the Saturday issue of daily Népszava.


Merrill Lynch: Hungary Could Enter ERM-II in 2011

ML-BofA believes that Hungary could be the pack leader in the group of Poland, The Czech Republic and Romania to enter ERM-II exchange rate mechanism, and finally introduce the euro in 2014.


Magyar Nemzeti Bank Discontinues EUR/CHF Foreign Exchange Swaps

The Swiss National Bank, the European Central Bank, the Narodowy Bank Polski and the Magyar Nemzeti Bank are announcing that they will discontinue EUR/CHF foreign exchange swaps, whereby Swiss franc is provided against the euro, within a term of seven days.     


Monetary Coucil Reduces the Central Bank Base Rate by 50 Base Points to 7 pct

At its meeting on 19 October 2009, the Monetary Council reviewed the latest economic and financial developments and decided to reduce the central bank base rate by 50 base points: from 7.50pct to 7.00pct, with effect from 20 October 2009.


Monetary Council Reduced the Central Bank Rate by 100 Basis Points

At its meeting on 27 July 2009, the Monetary Council reviewed the latest economic and financial developments and voted to reduce the central bank base rate by 100 basis points from 9.50 pct to 8.50 pct, with effect from 28 July 2009.


Hungary Launched its First International Bond in 2009

The Republic of Hungary launched and priced its first international bond in 2009 on July 17.


Trade Balance Showed Surplus of HUF 323 Billion in January-April

In January-April 2009, the volume of exports and imports fell by 22 and 26 pct, respectively, compared to the same period of the preceding year.


PRESS MONITOR:

News on Hungarian business, financing and banking from international news sources.


Monetary Council Voted to Maintain the Central Bank Base Rate at 9.5 pct

At its meeting on 22 June 2009, the Monetary Council reviewed the latest economic and financial developments and voted to maintain the central bank base rate at 9.5 pct.


News Monitoring