Hungary launches $2bn scheme to boost SME lending

MNB governor Gyorgy Matolcsy

The Hungarian central bank today announced it is putting $2 billion at the service of the country's small- and medium-sized enterprises (SMEs) in a bid to boost economic growth through activist monetary policy.

The two-pronged approach was described by Nordea analyst Annika Lindblad as a "welcome development" for the Hungarian economy, which will "hopefully support a recovery later this year".

First, 250 billion forints ($1 billion) will be made available to commercial banks at 0% interest, for

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