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Hungary central bank says will not buy any bonds from banks this week

BUDAPEST, July 7 (Reuters) - Hungary’s central bank will not hold any auctions to buy government bonds from local banks this week, it said on Tuesday NBHT1, NBHT2.

The bank launched the tenders in early May as part of efforts to shore up the economy hit by the coronavirus pandemic.

However, it suspended the purchases last month after buying 149 billion forints ($477.87 million)worth of bonds from local lenders, a fraction of the originally targeted amount.

Recently the bank said it considered the programme a safety net, to be used only to the extent necessary. ($1 = 311.8000 forints) (Reporting by Krisztina Than)

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