Hungarian National Bank
MNB announces new instant bank transfers which could lead to scrapping plastic credit cards in favor of "mobile wallets"
NBH discussed OneCoin, which it said “shows some signs of a pyramid scheme”, with Interior Ministry bodies, the Budapest Police Headquarters, Budapest’s Chief Prosecutor, Hungary’s Chief Prosecutor, the National Tax and Customs Authority, the National Investigation Office and the National Police Headquarters
In a statement, the monetary council repeated its earlier stand on keeping the base rate on hold “for an extended period”, while staying prepared to ease monetary conditions with unconventional instruments
The central bank said problems in the corporate loan portfolio of banks was still caused by project loans, for which the default rate was 34 percent at the end of June, versus a 10 percent default rate for other corporate loans
"It is clear that there are serious structural forces at play, which contribute to inflation being this low, such as globalization and changing demographic trends," the managing director of the National Bank of Hungary has said