Gergely Szakacs

UPDATE 1-Hungary cbank eases terms of $4.82 bln COVID-19 funding scheme

02 Jul 2020

* Strong investments key in hoped-for economic rebound (Adds detail, more comments)

UPDATE 2-Hungary central banker sees room to cut rates another 15 bps in July

26 Jun 2020

BUDAPEST, June 26 Hungary's central bank may cut its base rate by another 15 basis points in July, but that is as far as it will go, Deputy Governor Barnabas Virag said on Friday, adding that market pricing of further aggressive rate easing was exaggerated.

UPDATE 2-Hungary trims base rate in "one-off" move as pandemic hits economy

23 Jun 2020

BUDAPEST, June 23 The National Bank of Hungary unexpectedly cut its base rate by 15 basis points to 0.75% on Tuesday, its first such move in four years, responding to greater-than-expected damage to the economy from the coronavirus pandemic.

Hungary aims for quick decision on three-way bank merger

18 Jun 2020

BUDAPEST Hungary plans to decide "very quickly" on a proposed three-bank merger to create the country's second biggest lender, a government minister said, signalling strong political will to push ahead with the project before elections in spring 2022.

Hungary central bank likely to leave rates steady, downgrade growth forecast

17 Jun 2020

BUDAPEST The National Bank of Hungary is expected to leave interest rates unchanged on Tuesday, according to a poll of analysts, but could set the stage for some easing of policy lowering its outlook for economic growth.

UPDATE 2-Hungarian economy can recovery strongly from Q3 -Virag

09 Jun 2020

* Analysts forecast economy will shrink 4.6% in 2020 (Adds more comments, detail)

Laid off Hungarians turn to truck driving, carrot picking

05 Jun 2020

ERD, Hungary Zoltan Wetter worked in restaurants for over two decades before the coronavirus pandemic cost him his job. With no savings, the 38-year-old chef from the town of Erd in Hungary took the first opportunity he could find: behind the wheel of a garbage truck.

Hungarian central bank deputy governor Nagy unexpectedly resigns

28 May 2020

BUDAPEST Hungarian central bank Deputy Governor Marton Nagy unexpectedly resigned on Thursday, raising questions about the future direction of the bank's monetary policy.

Hungary central bank to leave rates steady after QE slashes long yields: Reuters poll

20 May 2020

BUDAPEST The National Bank of Hungary (NBH) will leave key interest rates unchanged next Tuesday, economists said in a Reuters poll, after government bond purchases launched this month sent longer yields plunging.

Hungary's MKB and MTB in merger talks as local banks gain sway

15 May 2020

BUDAPEST Hungary's MKB and MTB are in talks over a merger to create the country's second-largest bank, opening a new chapter in the shake-up of a banking system that has seen local players gain influence since Prime Minister Viktor Orban took power.

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