ÁKK Cutting Premiums on PMÁP
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The Government Debt Management Agency (ÁKK) has announced it will cut the premiums on its inflation-linked Premium Hungarian Government Security (PMÁP) series for retail investors from June 1, according to a release on its website.
The premiums over average annual inflation will be reduced by 0.5%, to 0.25% for the 2028 security and 1% for the 2031 security.
The 2028/L security will pay a rate of 14.75%, calculated with 14.5% average annual inflation in 2023, and the 2031/I security will pay a rate of 15.5%.
The measure was taken because of the interest rate cut announced by the National Bank of Hungary (MNB) on May 23, ÁKK said.
ÁKK noted that households had subscribed to HUF 1.54 trillion of the previous PMÁP series this year.
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