The ministry said the rate freeze had saved over 50,000 SMEs, with close to HUF 1.5 trillion in loans of around HUF 150 billion. It added that the benchmark three-month Budapest Interbank Offered Rate (Bubor) had stood over 16.5% when the measure was rolled out.
The ministry noted that lenders had voluntarily agreed to temporarily reduce their spreads on corporate credit over the Bubor to 0% from Feb. 1 for three months.
The three-month Bubor stood at 8.07% on Wednesday.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
