MNB leaves 1-week deposit rate on hold
Photo by Adriana Iacob/Shutterstock.com
The National Bank of Hungary (MNB) left the rate for its one-week deposit facility on hold at 5.85% ahead of a tender on Thursday, according to a report by state news wire MTI.
The rate is 245 bp over the 3.4% base rate.
MNB had raised the one-week deposit rate by 50 bp a week earlier and by 75 bp a week before that, acknowledging the impact of the war in Ukraine.
MNB policymakers said after their last bi-monthly meeting that the central bank is prepared to use the one-week deposit rate to "respond quickly and flexibly to commodity and financial market risks arising from the rapidly changing environment".
"The [MNB] stands ready to intervene in order to ensure the stability of the financial system using all instruments of its monetary policy toolkit," the rate-setters added.
Hungary CPI Drop Acknowledged at IMF/World Bank Spring Meeti...
Hungary to Address Future of Cohesion Policy During EU Presi...
AI may Save Hungarian Healthcare, Says Leading Doctor
Time Out Market to Open in Budapest Next Year
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
