Hungarian central bank eases by scrapping deposit facility
The central bank announces the closure of its two-week deposit facility in April
The Central Bank of Hungary will close its two-week deposit facility by the end of April, it announced today (January 12), in an effort to ease monetary conditions and encourage the purchase of government debt.
The rate on the two-week facility served as the central bank's policy rate until September, 2015, when it was dropped in favour of the rate on a new three-month, fixed-interest facility.
The two-week facility, meanwhile, was to be scaled back. The central bank imposed a 1,000 billion
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