MNB to hold press extraordinary press conference
National Bank of Hungary governor György Matolcsy will hold an extraordinary press conference at 11 in the morning today. The MNB sent journalists another invitation on Wednesday to an analysts' forum dubbed "Possibilities For Central Bank Lending Incentives" in the afternoon on Thursday.
The MNB recently said it would hold press briefings only after strategic decisions are taken, a change from the practice under the previous management. The briefings will be attended by the MNB governor, the central bank said. Business daily Vilaggazdasag said on its website, vg.hu, that a press briefing would follow an extraordinary meeting of the central bank's Monetary Council to discuss measures that will support economic growth.
The central bank's recently appointed governor, György Matolcsy, has suggested the MNB has room to manoeuvre to foster economic growth, but must be cautious given the country's high level of foreign-currency debt and jittery markets. As economy minister, Matolcsy was the chief architect of the Hungarian government's unorthodox economic measures, some of which have provoked the ire of foreign investors. Matolcsy discussed ways central bank tools could be used to support economic growth with his Austrian counterpart, Ewald Nowotny, on Tuesday.
The Monetary Council is scheduled to meet next on April 9. The MNB's base rate is not on the agenda of the meeting. The Council's next rate-setting meeting will take place on April 23, according to the body's schedule. Vg.hu said the MNB's management will meet with the heads of eight big banks operating in Hungary on Monday.
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