Hungary prepares to normalise its array of policy instruments

Central Bank of Hungary
The Central Bank of Hungary

The Central Bank of Hungary is moving towards policy normalisation, after unveiling a series of changes to its wide range of unconventional instruments at its latest policy meeting.

Though it kept interest rates on hold on September 18, with the main rate at 0.9%, the monetary council says it is preparing for a “gradual and cautious normalisation of monetary policy”. Several programmes are due to be wound down by the end of the year.

Since 2013, with the scope for further interest rate cuts

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