MNB buys HUF 60 bln under QE program

MNB

Image by Jessica Fejos

The National Bank of Hungary (MNB) bought HUF 60 billion of securities under its quantitative easing program in the week that ended on May 23, down from HUF 69 bln in the previous week, according to data published on the central bank's website.

The weekly purchase volume has been around HUF 60 bln nearly every week since early February. The latest weekly QE data shows the central bank bought HUF 30 bln of government securities at auction and HUF 30 bln outside auctions.

The bonds included HUF 23.4 bln of government securities with terms under 10 years. The total purchases made under the QE program reached HUF 2.228 trillion on May 23, including HUF 2.167 tln of government securities and HUF 60.6 bln of bonds from other issuers with government guarantees, such as the Hungarian Development Bank (MFB) and Magyar Eximbank.

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