MNB wants step from agency after false news

MNB

The National Bank of Hungary (MNB) is "deeply concerned" that a "great news agency" published "strongly misleading information" on the rate setting meeting of MNB on Tuesday, ahead of the official announcement of the bank, the MNB said in a statement late Tuesday. On screens worldwide a flash appeared six minutes before the rate decision with "BN" heading, alleging that MNB "lowers benchmark rate to 1.00%", which sent the forint diving for a few seconds. The item was corrected a couple of seconds later to "correct: no Hungarian rate decision yet". Porfolio.hu published a copy of the screen. MNB cut its main rate to 4.75% from 5.00% on Tuesday. "The central bank urges the news agency to take decisive measures in order to avoid similar misinformation in the future. The financial market volatility that temporarily emerged after the misleading information had been published is subject to further inquiry," MNB said.

ADVERTISEMENT

Companies Borrow HUF 256 bln in October Banking

Companies Borrow HUF 256 bln in October

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Mahart Container Center Depot Opening at Budapest Airport Transport

Mahart Container Center Depot Opening at Budapest Airport

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...

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.