MNB Announces Launch Dates for Deposit Tender, Discount Bill Auction

MNB

Photo by Adriana Iacob/Shutterstock.com

The National Bank of Hungary (MNB) on Tuesday announced launch dates for a variable-rate deposit tender and a regular auction of discount bills, according to a report by state news wire MTI.

The instruments aim to soak up banking sector liquidity, supporting tight monetary conditions.

MNB policymakers wound up a tightening cycle with a 125 bp rate hike in September, but said tight monetary conditions will be maintained "over a prolonged period" with a focus on sterilizing liquidity and improving monetary policy transmission.

On Tuesday, MNB said the first variable-rate liquidity-absorbing deposit tender will take place on Wednesday, October 5, while the first regular discount bill auction will be held on Thursday, October 6.

At the tender on Wednesday, MNB will announce a two-month deposit. The central bank may also decide to call a non-competitive phase.

ADVERTISEMENT

Voluntary Pension Fund Contributions Climb 20% in Q1-Q3 Figures

Voluntary Pension Fund Contributions Climb 20% in Q1-Q3

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Higher Sugar Prices Raising Holiday Candy Costs Retail

Higher Sugar Prices Raising Holiday Candy Costs

Hungarian Tourism in Croatia Returning to Pre-pandemic Level... Tourism

Hungarian Tourism in Croatia Returning to Pre-pandemic Level...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.