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Central Bank Offers 17.98% on 1-Month Deposits

HUNGARY
Full HUF deposit tender details - one-month deposit - maturity date 24/02/2023:
  • Total bids: HUF 2.51trl
  • Accepted bids: HUF 2.46trl

HUF 2.46trl accepted bids for the HUF one-month tender is a step up from the HUF 2.1trl 2-month operation back in November last year. Perhaps most notably the average rate is 17.98% - i.e. broadly inline with the 18% base rate (compares to 17.95% back in November) - pushing back against any outside expectations that the bank could accept a lower rate at today's op as a precursor to potential easing. Non-competetice bids are yet to be finalised as the operation settlement date is tomorrow.

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