No need for unconventional central bank measures in Hungary

History

There is no need at present for the introduction in Hungary of unconventional central bank measures, National Bank of Hungary governor András Simor said in an interview with commercial radio station Gazdasagi Radio late Thursday. Simor, who will head the NBH for just one more month, explained that such measures would be necessary if markets locked up and there was no demand for government securities, or if banks could not attract deposits because of low rates. He noted that the NBH had stepped in after a partial freeze on the government securities market in 2008, but added that such conditions do not exist at present. Media reports suggest some market players are concerned the Hungarian government's unconventional economic policies could spill over to the NBH when the central bank gets a new governor and deputy-governor in March.

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