ÁKK cuts interest on retail papers by 25 basis points

In Hungary

Hungaryʼs Government Debt Management Agency (ÁKK) said it would cut the interest rate on several retail government securities by 25 basis points as of Monday, Hungarian news agency MTI reported yesterday.

ÁKK noted that retail investorsʼ government securities purchases made in the first quarter financed nearly 75% of the annual fiscal deficit, and this allows a slight reduction in the short-term interest rates. 

The interest rate on one-year interest-bearing treasury bills distributed in the outlets of the State Treasury as well as in banks will drop to 2.25% on Monday. 

The interest rate of one- and two-year treasury savings bills will drop to 2% and 2.5%, respectively, and the rate on the one-year treasury savings bill Plus will drop to 2.25%. The three bills are sold at post offices.  

The move will not affect the interest rates of other T-bills or any government bonds.

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