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Monetary base drops Ft 165 bln in January

Hungary's monetary base declined by Ft 165.2 billion to Ft 2,239.8 billion in January, the National Bank of Hungary (MNB) announced on Tuesday.
Currency in circulation was Ft 103.5 billion lower at Ft 1,684.7 billion, the monthly average stock of other monetary financial institutions' current account deposits rose by Ft 5.9 billion to Ft 534.5 billion and that of other monetary financial institutions' overnight deposits fell by Ft 67.6 billion to Ft 20.6 billion. The annualised month-on-month growth index of the monetary base (M0) was 107% in January.