Hungary
Central Bank of Hungary adopts new constitution
The ‘internal constitution' reinforces central bank's ‘extremely broad range of competencies' and stresses cooperation with government to promote growth
Hungary tightens bank forex funding rules
Hungary's central bank aims to smooth out maturity mismatches between long-term foreign exchange loans and the short-term funding banks use
New monetary policy tools in Hungary introduced to wean country off external debt
The Central Bank of Hungary is tweaking its policy tools to incentivise lenders to purchase more domestic bonds, so reducing government’s need for foreign-denominated debt
Central Bank of Hungary makes ‘criminal complaint’ against board member
Hungary’s central bank has made a ‘criminal complaint’ against one of its own staff members, as well as a media outlet, over allegations about its use of public funds
Hungary central bank buys interbank clearing company Giro
Central Bank of Hungary aims to buy out remaining minority shareholders in the country's provider of interbank settlement services over the next two months
Early-warning indicators ‘crucial' where imbalances don't cause inflation
Hungarian paper singles out early-warning signals for macro imbalances that could be missed by a single-minded focus on price stability
Forex loans helped Hungarian firms invest more - until the forint fell in the ‘great recession'
Working paper finds Hungarian firms that borrowed in foreign currencies invested more before the crisis, but experienced a negative balance sheet effect thereafter
Hungary central bank sets out stress test methodology
Working paper explains how the National Bank of Hungary conducts its stress tests, aimed at ensuring the system can survive an intensive month-long liquidity shock
Hungary chided by ECB over threat to suspend governor
Hungarian law states that if the governor or deputy governors fail to declare personal wealth, they could be relieved of their posts; ECB points out this is insufficient grounds under European statute
Hungary targets forint entry into CLS
Hungary's central bank has committed itself to bringing the currency into CLS, and sources believe it could be added as early as next year
Hungary minutes show calls to slow rate of cuts
Hungarian monetary policy council decided in December to again cut rates by 20 basis points, but two members argued it was time to slow the rate of easing
Former Hungarian deputy says police investigation is the ‘craziest thing I have ever seen'
Júlia Király, who quit the Hungarian central bank this year after governor Andras Simor was replaced, says ongoing probe likely centres on her old department; warns over monetary stimulus
Hungarian easing shows no sign of abating
Central Bank of Hungary reduces its key policy rate for the fifteenth time in as many months, and says ‘further cautious easing’ could follow
Hungarian central bank takes over financial stability role under new deputy governor
László Windisch will be in charge of financial stability, as former financial services authority is brought inside the central bank
Hungarian economists wary of foreign bank branches
Researchers are concerned that a shift away from foreign bank subsidiaries to branches increases the risks of inadequate supervision and threatens financial stability both at home and abroad
Hungary council members divided over rate drop
Central Bank of Hungary monetary council members were split over the size of last month’s rate cut; minutes from August meeting signal that easing cycle is winding down
Hungary signs RMB swap line with PBoC
Agreement is the People's Bank of China's second with an EU member state following deal with the UK; equals the size of swap line China has with its neighbour Mongolia
IMF shuts up shop in Budapest as Hungary clears its debt
Central Bank of Hungary repays remainder of its €1.44 billion loan ahead of schedule; IMF’s Budapest office will close at the end of August as part of ‘a message to voters’
Hungarian paper breaks down components of finanical market indicators
Working paper presents a method for separating the global, regional and country-specific components in market indicators
Hungarian central bank signals rate cut slowdown
Monetary council cuts benchmark rate by 25 basis points for 12th consecutive meeting; says global volatility may justify a change in pace in coming months
Central Bank of Hungary moves to shut IMF's Budapest office
Central bank governor György Matolcsy says Hungary has almost completed its stand-by arrangement, so the IMF's work there is done; Hungary's relationship with the fund has been turbulent
Hungarian inflation bound for 3% target after central bank cuts again
Hungarian National Bank cuts benchmark interest rate by 25bp for 11th successive meeting; forecasts that inflation will pick up in 2014 and hit target the following year
Hungarian paper backs sticky price inflation indexes
Working paper analyses forecasting ability of different indicators of underlying inflation; finds sticky price indexes outperform more traditional core inflation measure
National Bank of Hungary optimistic on SME lending
Hungarian central bank releases latest financial stability report; suggests new funding-for-growth scheme will lead to a recovery in lending this year