MNB buys HUF 50 bln in QE gov't securities
Image by Jessica Fejos
The National Bank of Hungary (MNB) bought HUF 50 billion of government securities under its quantitative easing program in the week ended September 5, in line with the weekly target amount, according to data published on the central bank's website.
The MNB launched the QE program in the spring of 2020 "to prevent damage [...] to monetary policy transmission and manage economic and financial risks arising from the coronavirus pandemic."
In August 2021, central bank policymakers decided to start tapering and set a target amount for weekly purchases of HUF 50 bln "as a first step," but said the MNB "may depart from this arrangement in a flexible manner, depending on the supply and other market conditions."
According to the latest weekly QE data, the MNB bought HUF 29 bln of government securities at a weekly auction and HUF 21 bln outside of the auction. The total amount of government securities purchased under the scheme's framework had reached HUF 2.977 trillion on September 5.
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.