MNB

MNB

ICEG projects gov’t debt to peak at 67% of GDP

Economic research center ICEG expects Hungary's level of government debt to rise to 67% of GDP by the end of...

MNB

Net household savings 3.9% of GDP in Q1

Seasonally adjusted net household financial savings stood at 3.9% of GDP in the first quarter of 2006, the National Bank...

MNB

Q1 net foreign debt up €1.8 bln

Hungary's net foreign debt rose €1.84 billion from the end of 2005 to €32.23 billion at the end of March...

MNB

GDP up 4.6% yr/yr in Q1

Hungary's economy expanded 4.6% year on year in volume terms in the first quarter of 2006, according to unadjusted figures,...

MNB

International reserves rise €236 mln in May

Hungary's international reserves increased €236 million in May, after a €1.081 billion fall in April, National Bank of Hungary (MNB)...

MNB

OTP issues 100,000 AmEx cards in a year

OTP Bank Rt has issued 100,000 American Express credit cards in the past 12 months, triple the number expected, deputy...

MNB

Banks call back Transelektro loans

The creditors of Ganz Transelektro Villamossági Rt (GTV), which exercises ownership rights over the troubled holding company Transelektro, have called...

MNB

Bourse turnover doubles in May

Double-counted turnover on the Budapest Stock Exchange (BÉT) was Ft 1,823.4 billion in May, more than double April's turnover of...

MNB

Forex assets increase to 40.5% of banking sector’s total assets

Foreign currency-denominated assets accounted for 40.5% of Hungarian banks’ combined total assets at the end of March, up from 33.7%...

MNB

CIB Bank Q1 after-tax profits increase 30% yr/yr

CIB Bank Rt had after-tax profit of Ft 6.5 billion in the first quarter of 2006, 30% more than in...

MNB

Citibank pre-tax profits up 7% in 2005

Citibank Zrt had pre-tax profit of Ft 16.2 billion in 2005, 7% more than a year earlier, the bank said...

MNB

OECD calls for more realistic fiscal targets from new government

Hungary's new government should set more realistic fiscal targets and implement them rigorously, otherwise there is a risk of financial...

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 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...

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...

Varga Prioritizes Successful Euro Adoption Over Speed

Hungary should prioritize a successful transition to the euro over rapid adoption, MNB governor Mihály Varga said at the 64th...

Forint Volatility Warrants ‘Special Attention,’ MNB Policymakers Say

Members of the Monetary Council of the MNB acknowledged the disinflationary effects of the stronger forint but said exchange rate...

MNB Cuts Base Rate to 5.5%, September Inflation Report to Guide Next Steps

The Monetary Council of the National Bank of Hungary (MNB) cut the central bank base rate by 25 basis points...

Meeting Maastricht Criteria Would Benefit Entire Hungarian Economy, MNB Dep Gov Says

Meeting the Maastricht criteria for adopting the euro would benefit the entire Hungarian economy, Péter Benő Banai, a deputy governor...

National Bank of Hungary Cuts Base Rate to 5.75%

The Monetary Council of the National Bank of Hungary (MNB) cut the central bank base rate by 25 basis points...

MNB Monetary Council Cuts Base Rate to 6%

The Monetary Council of the National Bank of Hungary (MNB) decided to cut the central bank base rate by 25...

MNB Warns of Rising Housing Market Risks as Banks Remain Stable

The National Bank of Hungary (MNB) said the local banking system remains stable but underscored increasing risks in the home...

MNB International Reserves Rise EUR 1.898 bln in April

International reserves of the National Bank of Hungary (MNB) stood at EUR 60.630 billion at the end of April, up...

MNB May Reduce 82% Ownership Stake in BÉT

Talks are underway between the Budapest Stock Exchange (BÉT) and the National Bank of Hungary (MNB) on reducing the central...

MNB Governor Warns Inflation Could Exceed 5% This Year

MNB Governor Mihály Varga said in an interview with economic weekly HVG that the new gov't must present a credible...

National Bank Policymakers Leave Base Rate on Hold at 6.25%

The Monetary Council of the National Bank of Hungary (MNB) decided to leave the central bank base rate unchanged at...