Currency

PRESS MONITOR

International news sources report on Hungarian government, politics and banking.


Central Bank Forecasts Fourth-Quarter Inflation Better than Expected

Hungary will record inflation at 3.6pct in the fourth quarter of 2010 and 3.3pct in the first quarter of 2011, the National Bank of Hungary (NBH) said in its quarterly inflation report on August 25.


Financial Authority on Foreign Currency-denominated Loans

The Hungarian Financial Supervisory Authority (PSZÁF) suggests that banks should use either their own official middle rate or the one of the Central Bank when calculating the monthly reimbursement of debtors.


In June 2010 Forint Borrowing by Households Exceeded Repayments

As in the previous month, in June 2010, forint borrowing by households exceeded repayments, i.e. the sector was a net borrower, while repayments in foreign currency exceeded borrowing, i.e. the sector was a net repayer.


Parliament Approves Bank Levy

Late on July 22, parliament approved a three-year bank levy which is to generate budget revenues of HUF 200 billion in 2010, including some HUF 13 billion in revenue from extraordinary bank taxes already in place.


PRESS MONITOR

International news sources report on the Hungarian economy and business environment.


The Monetary Council Left the Central Bank Base Rate Unchanged

At its meeting on 19 July 2010, the Monetary Council reviewed the latest economic and financial developments and voted to leave the central bank base rate unchanged at 5.25 pct.


Households Were Net Repayers Of of Debt In May

In May 2010, forint borrowing by households exceeded repayments, i.e. the sector was a net borrower, while repayments in foreign currency exceeded borrowing, i.e. the sector was a net repayer.


Hungary to Join ERM-II in 2 years, says City

Hungary may join the ERM-II exchange rate system in two years' time, London-based analysts of emerging markets said on Monday.


NBH Financial Stability Report

The National Bank of Hungary released its financial stability report on Wednesday.


News Monitoring