Finance

MNB

Fed OKs discount rate reduction

The Federal Reserve, declaring that increased economic uncertainty poses risks for US business growth, announced Friday that it has approved...

Banking

Hungary’s expected Ft 87.5 bln deficit for August

Financial Ministry is expecting Ft 87.5 billion deficit for August or about 0.4% of GDP, said undersecretary Miklós Tátrai....

MNB

Fed pumps in funds as Wall Street reels

The Federal Reserve pumped $17 billion into financial markets Thursday to fight the deepening subprime mortgage crisis, which had Wall...

Banking

Hungary: FinMin says VAT will not change

“We are going to submit an amendment proposal to the VAT law to be reviewed by the Parliament, however, according...

Ratings

EU to investigate credit rating agencies

The European Commission said on Thursday it will look at credit rating agencies for their apparent slow response to the...

Banking

Czech public finance reform likely to make it through parliament

A package of economic reforms on which the Czech Republic’s centre-right ruling coalition has based its future are likely to...

Banking

Do you want to expand a welfare state? Cut taxes.

Iceland's tax reduction lesson for Canada. - What's the best way to expand a welfare state, irrationally assuming for the...

MNB

Trichet: Eurozone money market conditions have “progressively gone back to normal”

Market participants should “keep their composure,” European Central Bank President Jean-Claude Trichet said Tuesday, while insisting that money market conditions...

MNB

Russia: Ruble to be retired from inflation fight

The Central Bank deputy chairman Alexey Ulyukaev has announced that the Bank will not raise the exchange rate for the...

MNB

Central banks move to calm nervous markets

Central banks took further steps yesterday to calm markets roiled by fears over a credit squeeze, with the Bank of...

Banking

China’s FDI up 13% in 7 months

China’s realized foreign direct investment increased nearly 13% year-on-year from January to July, driven by rapid growth in the real...

MNB

Investec spies bond opportunity in Hungary

While bond managers everywhere fret about the impact of rising global inflation, price rises could actually slow in Hungary following...

MNB

China’s central bank pledges to prevent economy from overheating

Chinese central bank said on Wednesday it would put the task of preventing the national economy from overheating as the...

MNB

Russia will feel foreign debt burden by 2010

Between April 1, 2007, and April 1, 2008, at least $16.3 billion will be spent on interest on Russia’s foreign...

Banking

Hungary’s Finance Ministry bills for autumn

Nearly 50% of the bills the government plans to put forward to the Parliament by the end of October are...

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...

Banking

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...

Banking

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

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

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...

Banking

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...

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...

MNB

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...

Banking

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...

Banking

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...

Trade

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...

Ratings

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...

MNB

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...