Central Bank of Hungary (MNB)
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
Hungarian deputy governor resigns over new central bank regime
Last remaining deputy from the previous regime cites lack of professional debate and 'Potemkin' approach to stimulating growth
Hungary launches $2bn scheme to boost SME lending
New scheme will lend to commercial banks interest-free to on-lend to SMEs; cash also available to re-finance foreign-denominated loans into Hungarian forints
IMF calls on Hungary to safeguard central bank independence
The Fund's executive board urges National Bank of Hungary to preserve legal and operational independence; encourages a 'pause' in monetary easing
Hungary PM picks finance minister Matolcsy for central bank top job
Government seeks to ‘harmonise’ policy with central bank by nominating finance minister György Matolcsy as András Simor’s successor; appointment could herald greater policy easing
Hungary central bank staff review their monetary policy model
The National Bank of Hungary's Monetary Policy Model has been in place for two years - staff publish a review of its performance ahead of governor switch
Hungarian police confirm investigation of 'unknown person' linked with central bank allegations
Hungarian police launch malfeasance investigation into an individual believed to work at the National Bank of Hungary; governor András Simor is 'unlikely' to be the target
Hungarian central bank may face police investigation
Reported police investigation follows State Audit Office allegations of unlawful behaviour at the central bank, including passing 'secrets' to the IMF
Hungarian central bank accused of illegal data transfer
Rift between National Bank of Hungary and the State Audit Office widens amid accusations of ‘unlawful' communication with the IMF and poor management of banknote company
Unorthodox monetary policy would not suit Hungary, says paper
Research finds that unconventional central bank instruments have successfully eased market conditions in developed countries, but would have little impact in Hungary
Hungarian governor publishes open letter in spat with audit office
András Simor publishes letter after state audit office 'transgresses its authority' in a study into monetary policy
Hungary defies IMF to cut rates again
Central bank cuts rates in six consecutive meetings, despite IMF warning that inflation is not well contained and looser policy will do little to boost the economy
Outgoing Hungarian governor fighting a losing battle on monetary council
Central bank governor and deputies outvoted on interest rate decision for fifth successive meeting; government minister tipped to be appointed next governor
Currency mismatches hit corporates hard during crisis, says Hungarian paper
Prior to the crisis of 2007, companies with large foreign exchange liabilities and no hedge comprised 7% of the corporate sector but held 66% of the loans; had lower survival rates and profits as a result
Stiglitz slams ‘unconscionable’ central bank independence
Economist Joseph Stiglitz attacks central bank independence, saying conflicts of interest and recent interventions amounting to fiscal policy are unjustifiable for a non-elected body
Hungarian governor slams government’s economic policies
András Simor says economic recovery in Hungary will require fiscal discipline, higher bank lending and price stability – and the government is failing at all three
National Bank of Hungary warns of tight lending conditions
Quarterly lending survey finds number of companies with access to credit is falling, with a further squeeze possible when the Hungarian transaction tax feeds through
Hungarian paper explores central bank transparency
National Bank of Hungary research identifies areas of transparency that can be exploited to reduce uncertainty in the economy
External members again dominate Hungary’s monetary council
The council’s four external members outvote the governor and his two deputies for the third consecutive meeting, minutes show
Hungarian officials disagree over source of inflation
The Monetary Council of the National Bank of Hungary was divided over latest interest rate decision; could not agree on root cause of higher-than-expected inflation
Hungarian government abandons central bank transaction tax
Hungary’s minister for the national economy says transaction tax will not be applied to central bank following pressure from European authorities and the IMF
Hungary rejects leaked conditions for IMF programme
Viktor Orbán says Hungary will not comply with requirements for IMF-EU programme; leaked list includes elimination of controversial transaction tax applied to National Bank of Hungary