Hungary’s central bank (MNB) has raised its key policy rate by 50 basis points to 6.50% on Tuesday, in line with expectations. Although today’s rate call was in line with expectations, it does represent a turnaround in monetary policy.

Hungary is striving to expand its strategic cooperation with India both in terms of trade and joint investments, Deputy State Secretary in Hungary’s National Economy Ministry, Balázs Hidveghi told a conference on India this Wednesday.

The American Chamber of Commerce in Hungary (AmCham), established in 1989, aims “to be the leading representative for US and international business in Hungary, and to promote the global competitiveness of the country”.

Hungary expects to sign a new agreement with the International Monetary Fund (IMF) and the EU early next year, the country's Economy Ministry said on Friday. Hungary, in a reversal of policy, wants to see the IMF act as an "insurance".

The National Bank of Hungary believes the recent depreciation of Hungary’s forint is not justified by the fundamentals of the country’s economy a gradual tightening of monetary conditions may become necessary in Hungary.

Attaining the 1.5% GDP growth targeted for 2012 will be "extremely difficult", Hungarian Prime Minister Viktor Orbán said at the London School of Economics on Thursday. The EU projects Hungarian GDP to be 0.5% next year.

Hungarian-born American billionaire investor György (George) Soros said in Budapest this Thursday that the current euro crisis has the potential to destroy the cohesion of the European Union, mainly due to its political nature.

The chairman of the Portuguese-Hungarian Chamber of Commerce, László Hubay Cebrian talks to Diplomacy and Trade about how the organization wishes to enhance business ties between the Potuguese-speaking world and Hungary.

Hungary will have the crisis taxes phased out as of 2013, a National Economy Ministry deputy state secretary confirmed earlier reports on Tuesday. The sectoral taxes are expected to generate HUF 1 billion in 2012.

Hungary hassigned new partnership agreements on EUR 153 million in funding from the European Economic Area (EEA) and the Norwegian Financing Mechanisms the country is getting in the years 2009-2014.

The Hungarian government has decided to re-launch forint-denominated state-subsidised home loans that will be available for the purchase of both new or used homes. Also, there will be housing subsidy on social grounds.

Hungarian parliament on Monday evening gave the green light to the ruling Fidesz party's scheme to offer holders of foreign currency-denominated mortgages the option to pay off their full loans at preferential rates.

Brussels expressed its concerns over the Hungarian government’s plan to help people with foreign currency-denominated mortgages by allowing debt pay-off well under the market rate. Austria is infuriated and “firmly rejects” the measure.

The latest plan by the government includes measures affecting the cost of borrowing, utilities prices and foreign currency-denominated mortgages. There may be a higher VAT rate for luxury purchases and the public jobs program expanded.

The Hungary's Economy Minister György Matolcsy has proposed increasing the value-added tax on luxury items in a letter sent to European Tax Commissioner Algirdas Semeta, the Ministry of National Economy said in a statement on Wednesday.