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💥Hungary introduces new 18% rate

9:14 AM 14 October 2022

New 1-day deposit rate in Hungary of 18% results in a 2.5% appreciation of HUF against the EUR

Hungary made an emergency decision to introduce a new instrument in the form of an overnight deposit rate of 18%. The weekly deposit rate remains at 13% for the time being. EURHUF pair fell approx. 2.5% after the decision!

Hungary's central bank decides to take such action after inflation jumped above 20%. The bank points out that the move is aimed at increasing short-term bond yields.

Source: xStation5

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