Central bank buys HUF 60 bln in QE securities

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The National Bank of Hungary (MNB) bought HUF 60 billion of securities under its quantitative easing program in the week ending April 11, HUF 5 bln less than in the previous week, according to data published on the central bank's website.

The MNB's Monetary Council said after a monthly policy meeting on January 26 that it would maintain its policy stance but reallocate liquidity from its collateralized lending facility to its QE program, stepping up purchase volume and standing ready to expand purchases to securities under 10 years.

The central bank started buying terms under 10 years in the last week of January, and raised its weekly purchase volume to HUF 60 bln in the first week of February from a weekly HUF 50 bln-55 bln in the period since October.

Weekly purchases were steady around HUF 60 bln until the first week of April, when the MNB bought HUF 65 bln of securities.

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