MNB buys HUF 60 bln in QE securities

MNB

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The National Bank of Hungary (MNB) bought HUF 60 billion of securities under its quantitative easing program in the workweek that ended February 28, level with the volume in the previous week, according to data published on the central bank's website.

The MNB's Monetary Council said after a monthly policy meeting on January 26 that it would maintain its policy stance but reallocate liquidity from the MNB's collateralized lending facility to its QE program, stepping up purchase volume and standing ready to expand purchases to securities under 10 years.

The central bank started buying such terms in the last week of January, and raised its weekly purchase volume to HUF 60 bln in the first week of February from a weekly HUF 50-55 bln in the period from October.

The latest weekly QE data shows the central bank bought HUF 32 bln of securities at auction and HUF 28 bln outside of auction. The bonds bought outside of auction included HUF 25 bln with terms of less than 10 years.

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