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NBH to introduce two non-conventional monetary policy tools
November 21st, 2017
The National Bank of Hungary's (NBH) Monetary Council has decided to introduce two non-conventional monetary policy tools in January 2018, the Council said in a statement published on the central bank's website after Tuesday's rate-setting meeting. One of the two tools will be an unconditional 5-year and 10-year interest rate swap (IRS) instrument, with a limit amount of 300 billion forints for the first quarter of 2018. The IRS instrument will be accessible to partner banks through tenders held regularly from January 1, 2018. Furthermore, the NBH will also launch a targeted programme to purchase 3-year or longer-term mortgage bonds, the Monetary Council said in the statement.
MTI