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NBH To Raise Rate Corridor Upper End To 25% From 15.5%, HUF Surges

HUNGARY
  • HUNGARY CENTRAL BANK MONETARY COUNCIL MADE SEVERAL DECISIONS THURSDAY:
  • RESERVES TO PROVIDE ENERGY IMPORT FX NEEDS (BBG)
  • HUNGARY CENTRAL BANK STARTS 1-DAY DEPOSIT TENDER, VIRAG SAYS (BBG)
  • HUNGARY TO USE 1-DAY DEPOSIT TO BOOST SHORT-END YIELDS: VIRAG (BBG)
  • HUNGARY TO RAISE RATE CORRIDOR UPPER END TO 25% FROM 15.5% (BBG)
  • HUNGARY CENTRAL BANK TO PROVIDE 18% INTEREST ON 1-DAY DEPOSIT (BBG)
  • EURHUF sharply lower on the news, now trading down 2.2%, below 420.

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