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NBH Law Change to be Assessed by ECB

HUNGARY
  • The ECB have confirmed receipt of the Hungarian government’s proposals to change central bank law. The law change concerns the allowance of the NBH to operate over the medium-term with negative equity – effectively allowing the government to avoid having to cover central bank losses stemming from the government budget. Finance Minister Varga had previously said the laws will become effective in January next year.
  • Hungary and Japan have reached an agreement on nuclear and industrial cooperation, affirming that nuclear energy will remain a central part of the energy mix for both countries. The deal ensures both countries continue to enjoy access to “cheap, safe and environmentally friendly” energy.
  • There are no major macro releases due Thursday, keeping focus on today’s ECB decision and tomorrow’s unemployment rate data.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market NewsEuropean Central Bank (ECB) Market News

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