Latest News

Hungary central bank could end rate rise cycle after September -deputy governor Virag

0

Hungary central bank could end rate rise cycle after September -deputy governor Virag By Reuters

Breaking News

‘;

Economy 17 minutes ago (Sep 22, 2022 14:01)

© Reuters. FILE PHOTO: A view of the entrance to the National Bank of Hungary building in Budapest,Hungary February 9, 2016. REUTERS/Laszlo Balogh

SZEGED, Hungary (Reuters) – Hungary’s central bank could consider ending its more than one-year-long cycle of interest rate rises after next Tuesday’s meeting when rates will increase again, Deputy Governor Barnabas Virag told reporters on Thursday.

Central Europe’s rate setters were the quickest last year to begin raising rates and accelerated the pace this year as inflation surged, but some are starting to slow, or possibly end, tightening cycles.

The National Bank of Hungary (NBH) raised its base rate by 100 basis points to 11.75% last month, but Virag has since raised the prospect of a halt to the bank’s rate rise cycle, which totals more than 1,100 basis points since June 2021.

“We need to assess ending (the cycle) each month,” Virag told reporters on the sidelines of an economics conference. “We should put this on the table already in September and decide about how we close this depending on the available options.”

He said key factors determining the end of the cycle would be positive forward-looking real interest rates, inflation risks turning balanced, the outcome of funding talks with the European Union and a strengthening of monetary transmission by tightening liquidity conditions.

Virag said the bank could raise interest rates by 50, 75 or 100 basis points next Tuesday, after which “all options are on the table,” including ending rate rises at once or phasing out the cycle with several smaller steps.

Hungary central bank could end rate rise cycle after September -deputy governor Virag

UK’s Kwarteng expects Bank of England to keep acting forcefullyBy Reuters – Sep 22, 2022

LONDON (Reuters) – New British finance minister Kwasi Kwarteng said on Thursday that he expected the Bank of England to take the forceful action necessary to contain inflation, in…

Fed feeds recession fears, Japan jumps in to support yenBy Reuters – Sep 22, 2022

By Marc Jones LONDON (Reuters) – World stocks were close to a two-year low and Japan was forced to unilaterally intervene in FX markets for the first time since 1998 on Thursday,…

ECB denies concerted intervention with Japan -Kyodo quoting spokespersonBy Reuters – Sep 22, 2022

TOKYO (Reuters) – The European Central Bank has not conducted currency market intervention, Japan’s Kyodo news agency quoted a bank spokesperson as saying on Thursday, denying…

Our Apps



Terms And Conditions
Privacy Policy
Risk Warning

© 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

UK’s Kwarteng expects Bank of England to keep acting forcefully

Previous article

Bank of England to sell 8.7 billion stg of government bonds in Q4

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News