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NBH To Respond With 1W Depo Facility To Deal With Market Risks and HUF Weakness

HUNGARY
  • *HUNGARY CENTRAL BANK SAYS READY TO INTERVENE FOR STABILITY
  • *HUNGARY CENTRAL BANK SAYS TO USE ALL INSTRUMENTS IN ITS TOOLKIT
  • *HUNGARY NBH TO RESPOND WITH 1-WEEK RATE TO DEAL W/ MARKET RISKS (BBG)
  • The NBH decided to raise the top of its corridor rate in today's non-rate-setting meeting, increasing by 100bps to 6.4%.
  • The NBH is very likely to proceed with another 'large' hike on Thursday given the dramatic depreciation in the HUF in the past week.

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