Hungarian Government Doubles the Credit Limit for SMEs

Minister of Finance and Minister of National Development and Economy announced that the Government doubles the credit limit supporting the SME sector.


Consumer Loan Rates Fall, Home Loan Rates Rise in October

The average interest rate for forint-denominated consumer loans dropped 33 base points in October, while home loan rates rose 35 base points.


Businesses' Small Euro-Denominated Loans Only Segment with Lower Rates, Higher Value Contracts in October

Business lending rates rose sharply in October with the exception of smaller euro-denominated loans, which was the only loan segment where the value of new loans rose in the month.


Russia's Biggest Bank Eyes OTP

Sberbank, Russia's biggest bank, wants to acquire, in the longer term, an Eastern European peer with an expansive network and subsidiaries.


Central Bank Reduces Base Rate by 0.5 pct

The Monetary Council of the National Bank made a surprise decision to many analysts by cutting 50 base points.


Hungary to Fulfill Criteria for Joining ERM II in November 2009

Hungary will be able to safely fulfill the criteria necessary to join the European Exchange Rate Mechanism (ERM) II by November, 2009.


EBRD Will Increase New Finance to Central European Union Member Countries

The European Bank for Reconstruction and Development (EBRD) will increase new finance to Central European Union member countries.


MOL to Lower Wholesale Diesel, Petrol Prices

Hungarian oil and gas company MOL will lower its wholesale diesel and 95-octane petrol prices by HUF 6 and HUF 8 per liter, respectively, from November 26th 2008.


Hungarian Retail Sales Volume Down 1.6 pct yr/yr in September

Retail sales volume in Hungary fell a calendar year-adjusted 1.6 pct yr/y in September 2008, the Hungarian Central Statistical Office (KSH) reported on November 24th.


Banks Likely to Deepen Rather Than Ease Recession in 2009

Hungary's banking system will likely add to the problems of Hungary's economy in 2009, rather than present a solution for the expected recession, Hungarian Bank Association chairman Peter Felcsuti said at a conference on November 20th 2008.


News Monitoring