Hungary central bank raises one-week deposit rate by 40 bps to 2.9% at weekly tender

hungary central bank raises one week deposit rate by 40 bps to 2 9 at weekly tender

Sumary of Hungary central bank raises one-week deposit rate by 40 bps to 2.9% at weekly tender:

  • Article content BUDAPEST — Hungary’s central bank raised its one-week deposit rate by 40 basis points to 2.9% on Thursday at its weekly tender, delivering the second increase in the depo rate in a week as it continues tightening policy to curb rising inflation risks.
  • Article content The bank has pledged to continue its monetary tightening as long as necessary and flagged a “more extensive and longer lasting” tightening to curb rising inflation risks and anchor inflationary expectations.
  • “The one-week depo rate will exceed the level of the base rate as long as the commodity and financial market risks relevant to the inflation outlook prevail,” a bank statement said, adding there was no time limit for this decision.

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