forint
January 22, 2010, 02:31 CET
Hungarians sitting on sizable fortune in old forint banknotes
The Hungarian population has approximately Ft 15 billion (€55 million) worth of expired banknotes which can still be exchanged at face value in banks, penzcentrum.hu reports. According to the Hungarian National Bank, people are not in any rush to exchange... [read complete entry]
January 22, 2010, 10:15 CET
Forint and stocks slide on US plans
Budapest shares slid for the second consecutive day as a sell-off swept through European markets on fears of US President Barack Obama's plan to curb risk-taking by banks. The BUX index fell 1.8% to 22,127 points on the day. OTP... [read complete entry]
January 12, 2010, 09:00 CET
State to bail out EU grant winners hit by weakened forint
Hungary's National Development Agency (NFU) will compensate recipients of European Union development funding for higher costs resulting from a weakening of the forint, under a decree issued by the National Development and Economy Ministry in the latest issue of official... [read complete entry]
January 04, 2010, 09:44 CET
Banks expect forint to stabilize in 2010
The forint will trade in a tight range against the euro and the dollar next year, close to its current levels, according to analysts surveyed by the Bloomberg news agency. Analysts say the forint could weaken against the euro in... [read complete entry]
November 04, 2009, 09:40 CET
Oszkó says gov't moves promise long-term growth; sliding forint no danger
Oszkó says gov't establishing conditions for long-term growth; forint no danger The government's current crisis-management measures and tight budget policy will give the country an advantage in the long term, establishing the conditions for economic growth when the upturn starts,... [read complete entry]
August 04, 2009, 09:36 CET
Forint at 2009 high against euro; traders see new range below 265
The forint reached a 2009-strongest rate of 264.52 against the euro early on Monday afternoon. The forint last traded at below 265 against the euro on December 31, 2008. Dealers remark that the forint strengthened past significant technical resistance levels... [read complete entry]
July 31, 2009, 10:26 CET
Analysts say forint may rise along with other emerging market currencies
Emerging markets foreign exchange is overall well positioned to benefit from an anticipated weakening of the US dollar and a stronger risk backdrop in which the forint and the zloty "should do well", London-based emerging markets analysts have said, envisaging... [read complete entry]
June 10, 2009, 09:37 CET
Forint strengthens on positive news from Latvia
The forint strengthened to Ft 281.1 per euro from Ft 286 on Tuesday and briefly went under Ft 280 during the day yesterday. Three factors contributed to the rally, said Commerzbank trader Mihály Ötvös. First, the risk to the region... [read complete entry]
May 14, 2009, 05:08 CET
Central banker warns big interest rate cut would cause forint crash
A big cut in Hungarian interest rates would lead to a currency crisis, deputy chair of the central bank Julia Kiraly said at a conference on Thursday. The Monetary Council of the central bank voted unanimously on April 20 to... [read complete entry]
May 06, 2009, 10:15 CET
Weak forint helps Hungarian shoe factory buck down trend in manufacturing
Amid a raft of layoffs around Hungary due to the economic crisis there one glimmer of hope as shoe factory Szamos Cipoipari ramps up production thanks to the weak forint and the resulting rise in demand abroad.... [read complete entry]
May 04, 2009, 10:05 CET
Data indicate decline in issuance of Swiss frank-based loans in Hungary
Hungarian consumer loans and mortgages denominated in Swiss franks stopped growing in March, according to central-bank data cited by business daily Vilaggazdasag on Monday.... [read complete entry]
April 28, 2009, 08:34 CET
Forex swings could drive demand for Hungarian residential property
All the participants on the real estate market pay great attention to the movements of the exchange rate of the Hungarian Forint (HUF) versus other currencies. In the last one of the sequence of four analyses, experts of international real... [read complete entry]
April 21, 2009, 08:54 CET
National Bank keeps rates on hold at 9.5%
The Monetary Council of Hungary's central bank (NBH) left the base rate on hold at 9.50 percent at a rate-setting meeting on Monday.... [read complete entry]
April 16, 2009, 10:39 CET
International markets ease terms for Hungary's debt after Bajnai sworn in as PM
The day after Gordon Bajnai was sworn in as Hungary's new crisis-managing prime minister, the cost of insuring the country's debt fell, market analysts said on Wednesday.... [read complete entry]
April 16, 2009, 10:29 CET
State research body says forint to firm by late summer
Hungary's forint will firm to around 286 to the euro by August and annual inflation will pick up to 3.7 percent as a value-added tax rise takes effect, Ecostat said on Wednesday.... [read complete entry]
April 09, 2009, 10:11 CET
MNB official says Hungary's banks have sufficient capital, but risks remain
Hungarian banks have an average capital adequacy ratio of about 11 percent, which is sufficient, a central bank official said on Wednesday.... [read complete entry]
April 06, 2009, 03:52 CET
Analysts dubious on early euro adoption by Hungary
Analysts polled by MTI on Monday said the notion that East-European countries should introduce the euro before their formal inclusion in the eurozone is unrealistic and pointless.... [read complete entry]
April 02, 2009, 09:49 CET
Forint lifted by talk of ECB intervention
Eastern European currencies, including the forint, posted strong gains on the interbank market yesterday on speculation that the European Central Bank (ECB) may intervene and buy regional currencies to limit their decline.... [read complete entry]
April 01, 2009, 08:05 CET
Rates on forint-based home loans up in February, APR tops 15%
The average interest rate for forint-denominated home loans was 12.53pc in February, up 94bp in a month and 281bp higher than a year earlier, National Bank of Hungary (NBH) figures published on Tuesday show.... [read complete entry]
March 25, 2009, 09:29 CET
Brokerage Questor advises clients to dump forints
Questor is advising its clients to buy euros against the forint, because it sees the forint weakening to Ft 310 per euro over the next six months.... [read complete entry]
March 23, 2009, 04:14 CET
National Bank keeps base rate on hold at 9.5%
The National Bank of Hungary's Monetary Council left the base rate on hold at 9.50pc at a rate-setting meeting on Monday.... [read complete entry]
March 23, 2009, 11:48 CET
Analysts see market jitters, longer-term upside in Gyurcsány's resignation
Ferenc Gyurcsany's announcement that he will step aside as Hungary's prime minister is not seen by the foreign markets as a negative development, but Hungary has little time left to implement reform measures, London-based market analyst 4cast said in a... [read complete entry]
March 19, 2009, 07:33 CET
Analysts say Hungary's fiscal gap could reach 5% of GDP in '09
Buda-Cash brokerage analysts said on Wednesday that Hungary's general government deficit could be 4-5pc of GDP in 2009 instead of the targeted 2.7pc.... [read complete entry]
March 18, 2009, 02:58 CET
When will forint bailout run out of euro buckets?
With the euro/forint rate having seemingly settled into a relatively narrow band around Ft 300/€, there has been a lot less howling about the strength of the Hungarian currency, which is of crucial importance to the millions of households and... [read complete entry]
March 17, 2009, 08:43 CET
Economy Minister warns of currency crisis, "social collapse" without deep reform
Hungary will witness a currency crisis this year unless the government implements radical structural reforms, the economy minister said in an interview to Monday's Nepszabadsag daily.... [read complete entry]
March 11, 2009, 07:49 CET
Central Bank president says longer wait for reform will increase "bloodletting"
The longer Hungary waits to start changes, the greater the "bloodletting" society will have to suffer and the longer the instability will be, National Bank of Hungary governor Andras Simor said on Tuesday.... [read complete entry]
March 09, 2009, 01:39 CET
Hungarian National Bank vows to prevent deeper forint plunge
The National Bank of Hungary (NBH) will encourage an increased use of recently introduced forint- and foreign-currency liquidity instruments, begin to sell EU resources on the market and is prepared to employ the full range of monetary tools at disposal... [read complete entry]
March 09, 2009, 07:23 CET
PM urges swift adoption of euro roadmap, less reliance on foreign capital
Hungary should aim to have a roadmap ready for adopting the euro by the end of September, Prime Minister Ferenc Gyurcsany said on Friday.... [read complete entry]
March 05, 2009, 09:24 CET
Forint hits new all-time low against euro
The forint plummeted to an all-time low against the euro of 312 on Wednesday, while the dollar reached multi-year highs against the currency, hitting 249. The euro and the dollar all returned these gains, however, and moved lower after the... [read complete entry]
February 24, 2009, 09:37 CET
MNB joins regional central banks in push to defend currencies
Hungary's central bank is ready to act if necessary to prevent disruptive movements in the forint's exchange rate, a statement by the National Bank of Hungary (NBH) said on Monday.... [read complete entry]
February 20, 2009, 10:40 CET
Forint weakens again on interbank market
The forint weakened on Friday morning's interbank market, trading at 304.40/70 against the euro at 9:00 a.m., compared to a Thursday-afternoon rate of 301.30/50.... [read complete entry]
February 18, 2009, 12:45 CET
Lawyer to launch case against banks on behalf of foreign-currency borrowers
A lawyer is to start a test case against banks, so that they co-share the financial burden caused by the weakening of the Hungarian forint currency with those who have credits based on stable currencies, the daily Magyar Nemzet wrote... [read complete entry]
February 18, 2009, 10:33 CET
PM says Hungary can adopt euro between 2012 and 2014
Hungary could adopt the euro between 2012 and 2014, Hungary's Prime Minister Ferenc Gyurcsany told foreign journalists on Wednesday in Budapest, Reuters reported.... [read complete entry]
February 17, 2009, 09:43 CET
Central Bank chief says forint volatility harmful, but claims no target level
Hungary's central bank does not have a target exchange rate but the recently experienced high volatility of the forint is harmful, the president of the central bank Andras Simor said on Monday.... [read complete entry]
February 16, 2009, 04:50 CET
Forint weakens again, reaches 304 to the euro
The forint weakened to a record low of 304.75 on Monday's interbank market before firming back to 302.80/303.10 against the euro at 4:30 p.m., compared to a Monday-morning rate of 300.85/301.00 and a Friday-afternoon rate of 298.90/299.15.... [read complete entry]
February 12, 2009, 09:06 CET
Gov't offers details on bailout for unemployed home-loan debtors
Hungary's government will part-pay monthly mortgage installments of people who have lost their jobs through no fault of their own for a maximum period of two years, the government spokeswoman said on Wednesday.... [read complete entry]
February 09, 2009, 02:11 CET
National Bank head warns further rate cuts could hit forint
National Bank of Hungary (NBH) Governor Andras Simor said on Sunday that central-bank instruments must be used only with great prudence, and further NBH rate-cuts could further weaken the forint.... [read complete entry]
February 06, 2009, 09:24 CET
OTP head Csányi says bank safe, bigger forint drop needed for mass defaults
It is even more true today that there is no trouble with OTP Bank than it was two or three months ago: the crisis could end in 2011 and the bank does not see any need to take extraordinary measures,... [read complete entry]
February 04, 2009, 11:13 CET
Forint hits new low, struggles to stay above Ft 300/€
The forint weakened to an all-time low of 304.00 against the euro on Wednesday morning's interbank market before firming to 300.00/50 amid volatile trade against the single European currency at 10:00 a.m., compared to a Tuesday-afternoon rate of 301.40/70.... [read complete entry]
February 04, 2009, 10:51 CET
Central Bank chief says MNB to fight forint volatility
National Bank of Hungary governor Andras Simor on Tuesday said the central bank considers the excessive volatility of the forint harmful and would add new elements to its existing tools to diminish this volatility.... [read complete entry]
February 03, 2009, 08:44 CET
Hungarian PM, Central Bank chief meet over plunging forint
The government is concerned over the fast weakening of the forint and will work with the central bank on finding way to ease the problem, Prime Minister Ferenc Gyurcsany said after meeting central bank president Andras Simor on Monday.... [read complete entry]
February 02, 2009, 09:46 CET
Gyurcsány says forint's plunge increases need for speedier euro introduction
Hungary's Prime Minister Ferenc Gyurcsany on Sunday voiced strong concern over the forint trading at around 300 against the euro.... [read complete entry]
January 26, 2009, 09:49 CET
Forint breaches 290/€ barrier in Friday trade
The forint weakened to Ft 291.1 per euro on Friday, sinking below the previous record low of Ft 288.9 per euro.... [read complete entry]
January 21, 2009, 10:06 CET
Analysts say forint weakness could limit rate cuts below 8.5%
The National Bank of Hungary is likely to continue to bring rates down to the level before an extraordinary 300bp rate rise in October, but City analysts say the easing campaign could stop there because of the recent weakening of... [read complete entry]
January 21, 2009, 10:04 CET
Forint strengthens in Wednesday morning trade
The forint strengthened on Wednesday morning's interbank market, trading at 283.40/70 against the euro, compared to a Tuesday-afternoon rate of 284.20/30.... [read complete entry]
January 20, 2009, 11:20 CET
Forint plunges to all-time low against euro
The forint strengthened to 284.95/285.10 against the euro at 9:30 a.m. on Tuesday morning from an all-time record low of 288.00/10 recorded at 9:00 a.m. on Tuesday morning.... [read complete entry]
January 20, 2009, 07:17 CET
Forint weakens as dollar gains on euro
The forint weakened 1.2pc to 282.91/283.15 to the euro late Monday from 279.50/70 on Friday, softening as the euro weakened against the dollar. A 50bp rate cut to 9.50pc by Hungary's central bank had practically no effect on the forint's... [read complete entry]
January 20, 2009, 07:12 CET
National Bank eases rates by half-point in fourth easing since big October hike
The Monetary Council of the National Bank of Hungary (NBH) discussed three options -- a 50bp, a 75bp and a 100bp cut -- at its rate-setting meeting on Monday, NBH deputy governor Ferenc Karvalits told the press after the meeting... [read complete entry]
January 13, 2009, 09:03 CET
Forint continues to weaken, trades at 280 to the euro
The forint weakened to Ft 280.7 per euro on Monday afternoon, its lowest level since October. Some analysts attributed the weakening to the Russian-Ukrainian gas dispute. Others blame the fall on rumours that the IMF is not happy with the... [read complete entry]
December 08, 2008, 03:14 CET
National Bank cuts key rate by .5%, to 10.5%
The Monetary Council of the National Bank of Hungary cut the base rate 50bp to 10.50pc at a non-rate setting meeting on Monday, the bank said.... [read complete entry]
December 03, 2008, 12:47 CET
Simor says '08 deficit could fall below 3% of GDP; current interest rate unjustified
The present rate of inflation in Hungary does not warrant keeping the base rate at its current level of 11.00pc, National Bank of Hungary (NBH) Governor Andras Simor said at a meeting of the Hungarian Association of Industrialists and Employers... [read complete entry]
November 18, 2008, 01:47 CET
Key Socialists push for local tax on forex transactions; PM resists
An influential group within Hungary's governing Socialist Party (MSZP), the Leftist Association (Baloldali Tömörülés) led by prime ministerial chief-of-staff Péter Kiss, is urging the introduction of a tax on foreign currency exchanges, reports Népszabadság. By introducing the so-called "Tobin tax,"... [read complete entry]
November 17, 2008, 10:58 CET
Baranya County government makes quick killing on sinking Hungarian currency
So here's an interesting little crisis-related story we almost missed. According to Index.hu, the government of Baranya County made a windfall of Ft 160 million (over €600,000) during the recent slide of the forint. Someone in charge of minding the... [read complete entry]
November 11, 2008, 12:32 CET
Analysts see Hungary's consumer inflation slowing to 3% by end of 2009
Data published early Tuesday that showed consumer price inflation continued to slow in October caused little surprise for analysts, who see CPI falling under 3pc -- the government's and the NBH's target for "price stability" -- by the end of... [read complete entry]
November 10, 2008, 09:37 CET
Head of PM's office says Hungary can join eurozone in 2010-2012
As a result of the financial and economic crisis, Hungary will meet the conditions for joining the eurozone earlier than formerly planned and it can introduce the euro possibly in 2011-2012, the minister in charge of the Prime Minister's Office... [read complete entry]
November 10, 2008, 08:46 CET
Downgrades hit Hungary, Moody's says metrics "far, far worse" than peers
Moody's credit-rating agency downgraded its sovereign risk of Hungary from A2 to A3 with a negative outlook on Friday afternoon. It also lowered its foreign currency deposit ratings on banks OTP, CIB, K&H, MKB, Erste, Budapest Bank and state-owned MFB.... [read complete entry]
November 03, 2008, 08:09 CET
Gyurcsány says IMF loan averted possible "bankruptcy" and social crisis
"The financial crisis could have led to state bankruptcy and a social crisis, if we had not done a good job," Prime Minister Ferenc Gyurcsány said in an interview printed in Vasárnapi Hírek on Sunday.... [read complete entry]
October 30, 2008, 09:28 CET
Bailout package more than big enough to cover Hungary's external debts
A EUR 20bn stand-by credit line provided Hungary by the IMF, the EU and the World Bank is more than enough to cover Hungary's gross state external financing requirement until the end of March 2010, when the credit line expires,... [read complete entry]
October 22, 2008, 11:12 CET
Hungarian central bank makes dramatic hike of base rate to 11.5%
The rate-setting Monetary Council of the National Bank of Hungary (MNB) raised its base rate from 8.5 percent to 11.5 percent at an extraordinary meeting on Wednesday.... [read complete entry]
October 22, 2008, 11:08 CET
National Bank chief rejects association with Iceland, says ECB line will go unused
National Bank of Hungary (NBH) president Andras Simor told television station CNBC on Wednesday that any comparison between Hungary's economic and financial situation and that of Iceland was entirely unfounded and unjustified.... [read complete entry]
October 22, 2008, 10:04 CET
Cash needs may force Budapest government to sell assets
Budapest needs Ft 50 billion in order to pay its own share when funding future investment projects, deputy mayor Imre Ikvai-Szabó told reporters on Thursday, adding that City Hall wants to raise those funds by selling shares of gas supplier... [read complete entry]
October 22, 2008, 08:02 CET
Forint drops to two-year low against euro
The forint weakened to above 280 against the euro just before 6:00 p.m. on Tuesday.... [read complete entry]
October 21, 2008, 08:28 CET
Forint drops to two-year low against euro
The forint weakened to above 280 against the euro just before 6:00 p.m. on Tuesday.... [read complete entry]
October 21, 2008, 08:23 CET
Simor: Central bank will intervene if forint fall threatens inflation target
Hungary's central bank will intervene if it believes that the forint's weakening may threaten the country's inflation target, National Bank of Hungary president Andras Simor said on Monday.... [read complete entry]
October 16, 2008, 02:53 CET
Gyurcsány says Hungary intends to join ERM-2 in 2010, setting stage for euro
Prime Minister Ferenc Gyurcsany told the Financial Times on Thursday that he aimed to have Hungary join the European Exchange Rate Mechanism-2 (ERM-2), an exchange-rate mechanism for countries that wish to adopt the euro, before Hungary's next parliamentary elections expected... [read complete entry]
October 16, 2008, 08:47 CET
Forint plunges 7% in Wednesday trading
The forint traded at around 270 to the euro late Wednesday, weakening sharply from 251 on Tuesday.... [read complete entry]
October 16, 2008, 08:45 CET
ECB to provide €5 billion in liquidity to Hungarian National Bank
Hungary's central bank has brokered an agreement with the European Central Bank to provide up to 5 billion euros of liquidity for the Hungarian market.... [read complete entry]
October 16, 2008, 08:18 CET
Financing of state debts covered for year, official says
The financing of Hungary's state debt is secured for this year, in spite of the reduction in forint issues announced on Friday, Government Debt Management Agency (AKK) deputy-director Laszlo Borbely told Econews on Wednesday.... [read complete entry]
October 13, 2008, 04:25 CET
MKB suspends issue of foreign currency loans
Hungary's MKB Bank on Monday said it was suspending all new euro- and Swiss franc-denominated loan products for an indefinite period because of exchange rate risks for clients in the current market environment.... [read complete entry]
October 13, 2008, 09:52 CET
Bokros advocates stability through consistent economic policy
It is not the level of the forint exchange rate that is most important, but its reliability and stable development, former finance minister Lajos Bokros told Napi Gazdaság in an interview.... [read complete entry]
October 07, 2008, 09:46 CET
Forint weakens more than 2.5% against euro
The forint traded at 251.45/60 to the euro late Monday, weakening more than 2.5pc from 245.10/20 late Friday as investors' appetite for risk waned in light of the latest developments in the global financial crisis.... [read complete entry]
September 30, 2008, 09:09 CET
Hungarian national bank keeps rates at 8.5%; Simor warns on growth
The overwhelming majority of Monetary Council members voted to keep the National Bank of Hungary's base rate on hold at a rate-setting meeting on Monday, but there was a proposal to lower the rate 25bp, NBH governor Andras Simor said... [read complete entry]
September 22, 2008, 07:56 CET
Goldman Sachs says Hungary could join eurozone by 2013
All of the Central European EU members -- even Hungary -- could join the eurozone by 2013, according to a weekly analysis of emerging markets by investment bank Goldman Sachs.... [read complete entry]
September 05, 2008, 08:27 CET
Forint weakens to 240/euro for first time since June, following dollar gains
Reeling from the dollar's upward trend, the forint weakened on Thursday afternoon's interbank market, trading at 240.60/70 against the euro at 4:15 p.m., compared to a Wednesday-afternoon rate of 238.50/60.... [read complete entry]
August 27, 2008, 09:18 CET
Inflation could drop to 3% target by end-2009, MNB says
Inflation in Hungary could fall to 3pc as early as at the end of 2009 earlier than by the middle of 2010 under the central bank's base scenario if the forint maintains its current strength and oil prices do not... [read complete entry]
August 26, 2008, 02:25 CET
National bank to hold internet poll on design of new Ft 200 coin
Ft 200 coins will be introduced in the first half of 2009, reports napi.hu. The National Bank will decide about the technical parameters of the coin in September, then an internet poll will be held about its appearance. The Monetary... [read complete entry]
August 25, 2008, 08:58 CET
Analysts expect central bank to hold rates at 8.5%
Hungarian central-bank rate setters are expected to keep interest rates on hold at 8.50 percent when they meet on Monday, while the bank's inflation report released on the same day is likely to predict a softening of prices compared to... [read complete entry]
August 22, 2008, 11:08 CET
Spending by Hungarians abroad surges 28%
Hungarians spent HUF 302bn (EUR 1.29bn) when travelling abroad in January-June 2008, 28.0pc more than a year earlier, figures published by the Central Statistics Office (KSH) on Friday reveal.... [read complete entry]
August 12, 2008, 07:52 CET
Local managers feel the crunch from strong forint
Hungarian business managers are distinctly unhappy with the central bank and the strong forint, for few have managed to fend off the negative consequences of a domestic currency that has appreciated by 8-10 percent in recent months, Tuesday's national daily... [read complete entry]
August 11, 2008, 09:48 CET
Forint weakens on euro bank statement
In the wake of European Central Bank (ECB) governor Jean-Claude Trichet suggesting on Thursday that the expected ECB interest rate hike will not be made, due to the slow growth in the eurozone, the dollar began to strengthen, while emerging... [read complete entry]
August 06, 2008, 08:41 CET
Relative weakness of forint fails to boost exports
Since the European Union's first wave of expansion, Hungary's currency has weakened compared to its regional peers, yet its share of foreign trade has underperformed, said business daily Világgazdaság on Tuesday.... [read complete entry]
August 04, 2008, 10:19 CET
GKI projects higher growth, firmer forint
Economic think tank GKI has raised its projection for Hungary's 2008 GDP growth to 3.0pc in its latest forecast from 2.5-3.0pc in May, and it puts the average HUF/EUR rate at 245 for the year, compared to an average of... [read complete entry]
August 04, 2008, 09:59 CET
Businesses concerned as strong forint looks set to erode euro subsidies
Strong forint will effect subsidies in 2009, when the European Central Bank is scheduled to recalibrate its fixed rates. [read complete entry]
July 22, 2008, 10:28 CET
Hungarian petrol prices ease on stronger forint
MOL will cut wholesale petrol and diesel prices by Ft 5 from Wednesday, the largest cut in 18 months. On average 95-octane will sell for Ft 305 per litre at the pumps, and diesel for Ft 325 per litre.... [read complete entry]
July 21, 2008, 03:53 CET
Hungarian National Bank keeps base rate at 8.50%
The Monetary Council of the National Bank of Hungary (NBH) decided at a meeting on Monday to keep its key rate on hold at 8.50pc. The decision was in line with market expectations. Following a short discussion, the council elected... [read complete entry]
July 21, 2008, 08:10 CET
Forint muscles its way to new highs
The forint extended its gains against the euro and the dollar on Friday, when one euro was buying Ft 228, a ten-year high, and one dollar bought Ft 144. Currency traders said the forint was trading in pattern with other... [read complete entry]
July 18, 2008, 03:28 CET
London analysts see Hungarian rates holding steady for balance of '08
Hungary's monetary tightening cycle is now likely to be over and done with for good, and next year may see the first rate cuts, a majority of London-based emerging markets analysts said prior to the July MPC meeting due on... [read complete entry]
July 17, 2008, 08:19 CET
FinMin says no need for interest rates to rise further
Finance Minister János Veres on Wednesday said he saw no reason for Hungary's interest rates, which currently stand at 8.5 percent, to rise any further. In an interview with Reuters, Veres said Hungary's forint had firmed too much too quickly... [read complete entry]
July 16, 2008, 08:27 CET
Forint weakens against euro
The forint weakened sharply against the euro on Tuesday to trade at 233.20/30 late in the afternoon, compared to 230.30/35 on Monday. Traders saw the weakening as a correction following the forint's recent firming, though they added it could also... [read complete entry]
July 14, 2008, 01:58 CET
Despite forint surge, retailers slow to cut prices of imported goods
Prices of imported products sold in Hungary have not been lowered as a result of the surging Hungarian forint, despite the ability of companies to cut their import bills, writes index.hu. According to the portal, companies are either expecting a... [read complete entry]
July 11, 2008, 11:09 CET
Analysts say forint could hit 220/€ before returning to earth
Having already burst through a number of multi-year records, the Hungarian forint could strengthen further, to as much as 220/€, according to a roundup of analysts' views on napi.hu. Despite this, and what is seen as a reluctance of the... [read complete entry]
July 08, 2008, 11:03 CET
Hungary rolls out first draft of euro-adoption plan
The first draft of the national plan for the introduction of the euro in Hungary has been completed, Finance Minister János Veres announced yesterday, reports hvg.hu. Though a timeline has not yet been set, if the country's ongoing convergence program... [read complete entry]
July 08, 2008, 09:36 CET
Forint hits record high again
The forint hit Ft 231.8 per euro on Monday, a new record high, before easing to Ft 232 in the afternoon. ING trader Pál Geszti said there is no condition that will change the strengthening trend of the forint. "The... [read complete entry]
July 04, 2008, 10:11 CET
Forint reaches five-year high against euro
The forint reached a five-year high against the euro late on Thursday, touching 233, a level last reached in 2003. The forint's gain follows other strengthening regional currencies, and the forint has appreciated less in recent months than the zloty... [read complete entry]
June 24, 2008, 09:51 CET
Analysts baffled as Hungarian National Bank keeps rate unchanged
Contrary to general expectations, the monetary council of the National Bank decided to leave the base rate at its current level of 8.5% yesterday. [read complete entry]
April 17, 2008, 10:07 CET
Forint weakens on S&P downgrade rumor
Following a rumor that the S&P would again downgrade Hungary, the forint traded weaker. [read complete entry]
April 11, 2008, 09:41 CET
Forint continues rise to four-month high
The forint reached a four month high following promises made by the finance minister. [read complete entry]
April 08, 2008, 09:28 CET
Forint strengthens to three-month high
The forint recovered to a three-month peak against the euro yesterday as depreciation fears subsided. [read complete entry]
April 04, 2008, 11:29 CET
International analysts deeply split on Hungary's monetary future
International observers are divided over Hungary's macroeconomic situation and whether monetary restrictions are to be expected in the near future. [read complete entry]
April 01, 2008, 11:12 CET
Hungary's Central Bank hikes base rate to 8% amid growing political turmoil
Hungary's Central Bank hiked its base rate to 8% amid fears of higher inflationary pressure and rising currency risk premiums. [read complete entry]