News in Brief
CyberShield program extended until 2027
Last year, 40,000 fraud attempts caused the victims damages of 50,000 forints per minute.
National Bank of Hungary
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News in Brief
Finance Minister: Government respects central bank’s independence
The Finance Ministry, in consultation with the European Central Bank, is considering extending the powers of the central bank’s supervisory board over activities external to the bank’s core tasks.
News in Brief
Finance Ministry and NBH maintain close cooperation
Both agreed that efforts to bring down inflation and to reduce the budget deficit and the state debt should be continued.
News in Brief
NBH Governor meets US ambassador to Hungary to discuss economic, trade and cultural ties
An NBH statement said the two countries are cooperating in a number of sectors, especially in security, economy, energy and law enforcement.
News in Brief
Central Bank: Hungary’s banking system is highly resilient and stable
Central Bank official Bálint Dancsik said the ratio of the Hungarian banks’ liquid assets, structure of financing, capital adequacy and credit portfolio are substantially better than during the 2008 crisis.
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Finance Minister and NBH governor discuss current economic situation
Mihály Varga and György Matolcsy agreed to hold consultations in person on a regular basis.
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NBH raises base rate by 100 basis points
Central bank (NBH) rate-setters raised the base rate by 100 basis points to 10.75 percent at a policy meeting on Tuesday.
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Matolcsy: NBH handled 2020 crisis successfully
The NBH governor said that to eliminate the “last vestiges of the crisis”, Hungary will have to focus on competitiveness.
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Central Bank raises base rate to 1.65 percent
The council also decided on Tuesday to raise the O/N deposit rate by 15bp to 0.70 percent and the O/N and one-week collateralized loan rates by 15bp to 2.6 percent.
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Hungarian rate-setters raise central bank’s base rate by 30 BPS
They also changed the interest rate corridor to between minus 0.25 and 2.15 percent.
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NBH governor: Investment growth, job creation and cheap credit are necessary for Hungary’s economic recovery
NBH governor has said investment growth, job creation and cheap credit will be necessary for Hungary’s economic recovery from the coronavirus crisis.
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Hungarian rate-setters keep central bank’s base rate on hold
The Council said it “supports price stability, the preservation of financial stability and the recovery of economic growth in a sustainable manner”.
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Hungary ranks 19th in NBH’s latest EU competitiveness report
In the NBH’s latest competitiveness report, Hungary’s score of 47.4 points on a scale of 0-100 is slightly higher than the average score of the other three Visegrad Group countries.