The Hungarian National Bank said it is prepared to use all the policy tools available to defend the forint, which came under pressure on foreign exchange markets last week.
In a statement released after two extraordinary meetings were held over the weekend, the central bank's monetary council said that the depreciation of the forint had gathered pace in recent weeks, a development the council "believes to have been caused mainly by a departure of expectations from economic fundamentals."
- Fintech in the ‘new era’ – Sustainable and sound development
- China’s macroeconomy in the ‘new era’ of politics and power
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Rising rates seen as main risk by reserve managers
- ‘Regulatory equivalence’ not enough for post-Brexit UK CCPs – Cœuré