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HUNGARY: Hungary Increasing Pressure on Banks to Invest in Government Bonds

HUNGARY
  • Bloomberg report that Hungary is increasing pressure on commercial banks to buy more state bonds as a way to help the government fund its widening budget deficit. Citing an op-ed from an official at the economy ministry, they add that lenders have failed to meet the expectation of increasing their government bond holdings by HUF 1.3trln ($3.5bn) as prescribed to them last June.
  • Local news flow is otherwise limited with regional focus shifting to the NBP rate decision later today.
  • There are no major data releases scheduled for today. Looking ahead, industrial production (Est: -2.1% y/y; Prior: -2.4%) and retail sales data (Est: +4.0% y/y; Prior: +3.2%) as well as preliminary trade balance figures for May will cross on Friday.
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion

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