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Hungary's central bank offers to accept HUF 200 bln of 3mo depos
May 22, 2017 / 2:11 PM / 6 months ago

Hungary's central bank offers to accept HUF 200 bln of 3mo depos

BUDAPEST, May 22 (Reuters) - Hungary’s central bank offers to accept 200 billion forints ($730.67 million) worth of funds from commercial banks in its 3-month deposit tool at a tender on Wednesday, the National Bank of Hungary said on Reuters page on Monday.

The bank will hold a rate meeting on Tuesday where it is expected to keep its base rate on hold at 0.9 percent and keep borrowing costs steady at least until 2019 because a jump in economic growth is unlikely to boost inflation.

But next month the bank is likely to lower its 500 billion-forint cap on 3-month deposits to 350 billion forints at the end of September, according to analysts’ median forecast. ($1 = 273.72 forints) (Reporting by Gergely Szakacs)

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