Hungary’s central bank to start buying government securities
Central bank says monetary policy has fallen short and cuts interest rates to a new low of 0.6%
The Central Bank of Hungary will buy “limited” amounts of government securities over the coming weeks, aiming to improve monetary policy transmission.
The bank cut interest rates for the second time this year at its meeting on June 21, taking them to a record low of 0.6%. It noted previous monetary policy action had fallen short of expectations.
“The effects of the interest rate cut in June appeared persistently in the shorter segment of the yield curve,” the central bank said in its statement
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