Hungary tightens monetary conditions further
The National Bank of Hungary’s (NBH) monetary council said it had not discussed changing the base rate today but decided to widen the bank’s interest rate corridor and make it asymmetrical upwards as “an integral part of the strategy of the new phase of monetary policy.”
“The Monetary Council reviewed recent economic and financial developments. In accordance with its meeting schedule, the Council did not discuss changing the base rate; however, at its current meeting a decision was taken to widen the interest rate corridor and make it asymmetrical. Based on its current decision, from 1 December, the Monetary Council increased the overnight deposit rate to 1.60 percent, while the overnight and the one-week collateralised lending rate were increased to 4.10 percent.
The primary objective of the Magyar Nemzeti Bank (MNB) is to achieve and maintain price stability. The Monetary Council indicated in the press release on its November decision that short-term risks in financial and commodity markets had increased recently, and the Bank intended to respond to these risks quickly and to the extent necessary. The interest rate on the one-week deposit has risen above the base rate in recent weeks. Widening and setting the interest rate corridor asymmetrical upwards is an integral part of the strategy of the new phase of monetary policy. In order to achieve and maintain price stability, it is highly important that the central bank has the appropriate monetary policy room for manoeuvre. This ensures the effective management of risks arising from the rapidly changing environment.”
Source: http://www.centralbanknews.info/2021/11/hungary-tightens-monetary-conditions.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).