Finance

MNB

Albanian central bank lowers key interest rate

Albania’s central bank said it decided to cut its key interest rate to a record low of 0.5% from 1%,...

Debt

ÁKK sells HUF 60 bln of bonds at auction, over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 60 billion of bonds at auction on Thursday, raising its...

MNB

No additional infection risk in using cash

From the point of view of spreading the coronavirus, the use of cash does not pose any extra risk compared...

MNB

Policymakers keep base rate, O/N deposit rate on hold

The Monetary Council of the National Bank of Hungary (MNB) decided to keep the central bank base rate at 0.9%...

Debt

ÁKK sells HUF 30 bln of 3-month T-bills, as planned

The Government Debt Management Agency (ÁKK) sold HUF 30 billion of discount three-month T-bills at auction on Tuesday, in line...

MNB

EBRD commits fresh funds to support Ukrainian businesses

The European Bank for Reconstruction and Development (EBRD) and Ukraine’s leading leasing company LLC OTP Leasing are helping domestic small-...

Banking

Orbán announces further economic measures

Prime Minister Viktor Orbán announced more measures to ease the economic impact of efforts to contain the coronavirus at a...

MNB

Hungary current-account deficit EUR 775 mln in Q4

Hungary had a current-account deficit of EUR 775 million in the fourth quarter of 2019, data released by the National...

MNB

Polish protection plan for employees and entrepreneurs presented

Polish President Andrzej Duda and the Prime Minister Mateusz Morawiecki presented the details of a program supporting Polish entrepreneurs and...

MNB

Govʼt, MNB weigh further measures to support SMEs

Hungaryʼs government and the National Bank of Hungary (MNB) are considering measures involving "credit or direct support" to help Hungarian-owned...

MNB

Polish c/a surplus narrows in January

Poland’s current account surplus shrank to EUR 2.265 billion in January 2020 from EUR 2.529 bln in the corresponding month...

MNB

Czech gov’t approves interest free loans for businesses

The Czech-Moravian Guarantee and Development Bank will launch a special coronavirus loan program in order to support entrepreneurs, Trade and...

MNB

Net average wage in Romania slows in January

The average net salary in Romania increased by 8.6% in January, compared to the same month of 2019, to RON...

MNB

Serbia’s FX reserves decline in February

The foreign exchange reserves held by Serbia’s central bank fell to EUR 13.459 billion (USD 15.032 ln) at the end...

Ratings

Inflation Surges, but Economy Receives Acknowledgement

Although headline inflation unexpectedly jumped to a whopping 4.7% in January, annual inflation will be close to the government’s projection...

Banking

OTP Says Exposure Limited as Paraguay’s Ueno Bank Enters Insolvency

OTP Bank said its USD 47 million investment in Paraguay’s Ueno Bank represents a small exposure for the Hungarian lender...

Ratings

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

OTP Says Exposure Limited as Paraguay’s Ueno Bank Enters Insolvency

OTP Bank said its USD 47 million investment in Paraguay’s Ueno Bank represents a small exposure for the Hungarian lender...

What Happens Next to What We’ve Built? New Challenges in Family Wealth Planning

Building a successful family business takes decades of work, but its future also depends on how carefully the transfer of...

Hungarian Banks Seek Gradual Reduction in 45% Effective Tax Burden

Hungarian banks hope for a “slow but certain” reduction in their tax burden, Hungarian Banking Association President Radovan Jelasity said...

MNB Probe Widens as International Arrest Warrant Issued for Ádám Matolcsy

International arrest warrants have been issued for Ádám Matolcsy, son of former Hungarian central bank Governor György Matolcsy, and businessman...

MNB Holds Base Rate at 5.5%, Maintains Symmetric Interest Rate Corridor

The Monetary Council of the National Bank of Hungary (MNB) left the base rate unchanged at 5.5% at its monthly...

Gránit Bank Hit by Largest Loan Loss Provision in Its History

Gránit Bank reported an additional approximately HUF 9.4 billion loan loss provision in the third quarter of 2026, the largest...

Fitch Sees Hungary’s Deficit Narrowing but Debt Burden Rising

Hungary’s budget deficit is expected to narrow and growth to accelerate in 2027, but rising debt and fiscal vulnerabilities continue...

MNB Cites Global Uncertainty Behind September Rate Hold

Global economic uncertainty constrained Hungary’s monetary policy room for maneuver, the National Bank of Hungary’s (MNB) Monetary Council agreed at...

MNB International Reserves Fall to EUR 62.1 bln in September

The National Bank of Hungary’s (MNB) international reserves stood at EUR 62.061 bln at the end of September, down EUR...

K&H Bank and Mastercard Extend Strategic Partnership Through 2030

K&H Bank and Mastercard have extended their exclusive strategic partnership through 2030, with plans to expand personalized digital financial services...

OTP Forecasts Hungary’s GDP Growth at 1.7% in 2026, 2.5% in 2027

Hungary’s economy could expand by 1.7% this year and 2.5% in 2027, with household consumption driving growth in 2026, according...

Hungary Posts EUR 481 mln Trade Deficit as Import Volumes Jump 13%

Hungary recorded a EUR 481 million goods trade deficit in August as import volumes rose 13% year-on-year while export volumes...

Bayer Construct Gets Default Ratings After Bankruptcy Protection Filing

Scope Ratings has assigned default ratings to Bayer Construct following its bankruptcy protection filing, citing financial pressure linked partly to...

Former Central Bank Governor Matolcsy Questioned as Suspect in Erste Case

Police have questioned seven suspects, including former National Bank of Hungary Governor György Matolcsy, in an investigation into alleged abuse...

MNB to Lower Inflation Target to 2.5% From 2028, Holds Base Rate at 5.5%

The National Bank of Hungary (MNB) will lower its inflation target to 2.5% from Jan. 1, 2028, while retaining its...