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Hungary central bank holds 0 pct countercyclical buffer rate
March 30, 2017 / 9:16 AM / 8 months ago

Hungary central bank holds 0 pct countercyclical buffer rate

BUDAPEST, March 30 (Reuters) - Hungary’s central bank will not lift the countercyclical capital buffer rate required of banks, maintaining the current rate of zero percent as cyclical systemic risks are low to support lending, the central bank said in a statement on Thursday.

The rate is reviewed quarterly.

“Though the turnaround of lending was achieved both in the household and corporate segments, the degree of the persistently and significantly negative benchmark credit-to-GDP gap, as well as the current level and dynamics of the supplementary indicators on overheating and vulnerability signal low level in the cyclical systemic risks,” the bank said. (Reporting by Sandor Peto anbd Marton Dunai)

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