Hungary
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
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
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
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
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