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Hungary cbank keeps base rate on hold

November 17th, 2020

Hungarian rate setters on Tuesday kept the base rate at 0.60 percent, while they also left the interest rate corridor unchanged, the National Bank of Hungary said on Tuesday. In a statement released after the meeting, the council said it had performed a "technical revision" of its quantitative easing programme, pointing out that the stock of government securities on the NBH's balance sheet had risen by more than 700 billion forints (EUR ) since May 2020. The council noted that is has proceeded with the programme without setting a total amount and said the next technical revision will be performed when the stock reaches 2,000 billion forints.


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