MNB raises rate on one-week depo by 15 bp to 0.75%

MNB

Image by Jessica Fejos

The National Bank of Hungary (MNB) raised the rate on its one-week deposit facility by 15 bp to 0.75% at a tender on Thursday, state news wire MTI reports, citing data published by the central bank.

Image by Jessica Fejos

Until now, the rate on the facility has tracked the base rate which stands at 0.6% at present.

When the MNB launched the one-week depo in April, a top policymaker had said that the rate on the instrument would be determined week by week, when the tender announcement is made, adding that market observers would have to follow not only the decisions of the Monetary Council but decisions on the one-week deposit rate, too.

The Monetary Council decided to leave the base rate unchanged at a monthly policy meeting on Tuesday.

MNB allotted HUF 1.925 trillion at the depo tender on Thursday.

ADVERTISEMENT

Business confidence edges up as consumer sentiment weakens Analysis

Business confidence edges up as consumer sentiment weakens

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

Energy Efficiency: End-users, Energy Traders and Other Stake... Inside View

Energy Efficiency: End-users, Energy Traders and Other Stake...

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

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.