The Hungarian central bank’s tightening cycle, the most aggressive in the European Union, has led to an increase in loan repayment obligations last seen in the 2008 financial crisis. Once the government’s interest rate stop on retail loans runs out at the end of June, hundreds of thousands of Hungarian families will experience a jump […]

Russia's war against Ukraine, the radically changing political environment and widespread international economic sanctions are forcing the global and Hungarian economy onto an economic path that is highly uncertain, says the latest forecast by Hungary's GKI Economic Research Co. The war launched by Russia against Ukraine and the resulting widespread international economic sanctions are forcing […]

The stock index of the Budapest Stock Exchange (BSE) rose slightly this week, closing at 43,983.38 points on Friday, up 47.82 points or 0.11% from a week ago, the state news agency MTI reported this Sunday. Turnover was HUF 92.09 billion, up from HUF 110.94 billion the previous week, with leading shares performing mixed. In […]

The National Bank of Hungary raised massively the EU’s highest key interest rate as it seeks to tamper runaway inflation and bolster the forint. Analysts expect policy makers to continue raising borrowing costs as the war in Ukraine continues to rattle markets. The Monetary Council of the Hungarian National Bank (NBH) raised the central bank […]

Although he refused to do so last year, Viktor Orbán has now sent a letter to European Commission President Ursula von der Leyen asking for more money for Hungary from the EU's EU's Recovery and Resilience Facility (RRF). In addition to the non-repayable aid, the government would also draw on the loan facility - the […]

The Monetary Council of the National Bank of Hungary (MNB) raised the base rate by 100 basis points to 4.4% this Tuesday, and pushed up the interest rate corridor by a similar amount. MNB says in a statement that its primary objective is to achieve and maintain price stability. Without prejudice to its primary objective, […]

The Budapest Stock Exchange's (BSE) share index, the BUX, closed the three-day trading week at 43,935.56 points, up 2.40% or 1,030.01 points compared to last Friday, the state news agency MTI reported this Sunday morning. The turnover was HUF 110.943 billion, compared to HUF 190.623 billion the previous week. Leading stocks rose, with the exception […]

Following weeks of protests in the form of civil disobedience, teachers in Hungary called a nationwide strike demanding higher wages and a fairer workload. While acknowledging some of their demands, the government called on teachers to postpone their strike in view of the war in neighboring Ukraine. Following weeks of protests in the form of […]

The Hungarian government on Saturday amended its March 5 decree on the export of "strategically important" agricultural products, adding durum wheat and hulless sunflower seeds to the list of restricted crops and clarifying that cereals can still be freely exported as seeds, the Hungarian Gazette reports. The range of crops concerned has been extended to […]

The Budapest Stock Exchange's (BSE) share index, the BUX, closed the week at 42,905.55 points, up 6.61% or 2,658.85 points compared to last Friday, the Hungarian state news agency MTI reported this Sunday morning. Turnover was HUF 190.623 billion, down from HUF 322.227 billion the previous week. Leading stocks were stronger with the exception of […]

Petrol stations across the country experienced fuel shortages this week in the face of record demand. The government-imposed price cap on motor fuel is forcing an increasing number of gas stations to close down. Long queues were forming at gas stations across the country this week and there is a growing number of petrol stations […]

Consumer prices were 8.3% higher on average in Hungary in February 2022 than a year earlier, the country's Central Statistical Office reports. The last time inflation was as high in Hungary was in August 2007. The highest price rises over the last 12 months were measured for motor fuels as well as food. In one month, consumer prices […]

The Hungarian currency, the forint (HUF) weakened steadily on Monday, with the euro at HUF 388.19 at dawn and crossing HUF 390 by the morning. The weakening did not stop thereafter, with negative records being broken one after the other, reaching the HUF 399 mark a few minutes before 10 am. This is how the […]

The Budapest Stock Exchange's (BSE) share index fell in heavy trading this week, with the BUX closing at 40,246.70 points on Friday, down 12.07% on a week ago to 5,522.46 points, the state news agency MTI reported this Sunday. Turnover on the stock market almost doubled to HUF 322.227 billion from HUF 176.57 billion last […]

Russia’s invasion of Ukraine sent markets in the region into a whirlwind and pushed the Hungarian forint to a record low against the euro this week. The National Bank of Hungary said it would take the necessary measures to contain the impact of the Ukrainian conflict on financial markets. International market sentiment sank this week […]