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Official Reserve Assets Rise 12% M/M in January

HUNGARY
  • Official reserve assets of Hungary rose EUR 5.14bln, or 12%, from the previous month to EUR 46.5bln in January, according to figures released by the National Bank of Hungary. The stock of cash, deposits and securities in the reserves fell EUR 913m, while the value of monetary gold in reserves stood at EUR 5.722bln. As a reminder, Hungary sold two bonds on international markets in January: a USD 2.5bln twelve-year dollar bond and a EUR 1.5bln five-year green eurobond.
  • The upgrade of the Paks nuclear plant is on schedule, Minister of Foreign Affairs and Trade Szijjarto said as per MTI, adding that the project would ensure Hungary's energy security, preserve the utility bill caps and further boost environmental protection.
  • There are no economic releases scheduled for today. Budget Balance data will cross tomorrow ahead of CPI data on Friday – which is the key release of the week. As per the median estimate of the Bloomberg survey of analysts, the headline figure likely fell from +5.5% y/y in December to +4.3% in January.
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