Finance

Ratings

Moody’s u-turns on bank credit ratings after furor

Moody's Investors Service may reverse credit-rating upgrades it gave banks less than a month ago following criticism from Merrill Lynch...

MNB

Central Bank gold holdings fall to lowest since 1948, IMF says

Gold holdings by central banks and other government organizations declined for the eighth straight year in 2006, to the lowest...

MNB

Bulgarian February sovereign foreign debt falls to €4.3 bln

Bulgaria's sovereign foreign debt fell to €4.4 billion ($5.8 billion) at the end of February on loan repayments....

Banking

German Cabinet gives green light to company tax cuts

German Chancellor Angela Merkel's Cabinet agreed on a draft law to cut corporate taxes, a measure aimed at improving companies'...

MNB

Hungarian base rate may drop to 6.00% by year-end

Economic research company GKI projects the National bank of Hungary’s (MNB) base rate will fall to 6.00% by the end...

MNB

EuroChem to raise $300 mln in debut bond sale

EuroChem, the world's seventh-largest fertilizer producer, plans to sell $300 million in bonds to foreign investors as it seeks to...

MNB

Slovak koruna records weekly advance; parity rate may change

The Slovak koruna posted a weekly gain and traded near its record high against the euro on speculation the central...

MNB

Bank of America plans to sell its first covered bonds in Europe

Bank of America Corp., the second largest US bank by assets, plans to sell as much as €20 billion ($26.2...

MNB

Koruna gains to record as investors return to emerging markets – extended

The Slovak koruna rose to a record against the euro as the rally in global equity markets led investors to...

Banking

Hungarian tax cuts hinge on broader revenue base

Hungary’s government may be able to cut some taxes and eliminate others if it succeeds in boosting the number of...

Debt

France sells €4 bln of inflation bonds

France sold €4 billion ($5.3 billion) of new 30-year index-linked bonds yesterday, its first sale of such securities in almost...

Debt

DaimlerChrysler sells €2 bln of 3-year bonds

DaimlerChrysler AG, the world's fifth-largest automaker, received orders worth more than €5 billion ($6.6 billion) in a sale of €2...

MNB

Hungary’s international reserves up €917 mln in February

Hungary's international reserves rose €917 million last month to €17.163 billion in February exceeding the €17 billion threshold for the...

MNB

Russian foreign currency reserves rise to record $315.3 bln

Russia's foreign currency and gold reserves rose to a record, erasing last week's decline, as the world's largest energy exporter...

Ratings

Latvia, Lithuania, Estonia at risk of overheating, Fitch says

The economies of Latvia, Lithuania, and Estonia are showing signs of overheating as rapid growth, accelerating inflation and high foreign...

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...

MNB

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...