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National Bank of Hungary (MNB)

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Collector Coins Commemorate the Golden Bull of 1222

D&T
May 20, 2022

Named “II. András Aranybullája” (The Golden Bull of Andrew II of Hungary), the Magyar Nemzeti Bank is issuing a small-sized gold coin at a face value of HUF 10,000 and a non-ferrous metal coin at a face value of HUF 5,000, which is the same size as the seal on the Aranybulla, in Esztergom to […]

Banks Anticipate Tightening Conditions, Slowing Demand

D&T
May 6, 2022

According to the responses to the Lending Survey conducted by the National Bank of Hungary (MNB), credit conditions and credit demand were broadly unchanged in the corporate credit market in the first quarter of 2022. Looking ahead, around a quarter of the banks plan to tighten lending conditions due to the economic prospects that are […]

EIB-MNB Agreement for Financing Green Projects

D&T
May 5, 2022

The European Investment Bank (EIB), the bank of the European Union, and the National Bank of Hungary (Magyar Nemzeti Bank - MNB), the Hungarian central bank, have signed an agreement to enable the EIB to support the Hungarian economy with more long-term green loans. The operation creates a new source of more affordable financing for […]

Key Interest Rate Up by 100 Basis Points in Hungary

D&T
Apr 26, 2022

At its meeting on Tuesday, the Monetary Council of the National Bank of Hungary (MNB) raised the central bank base rate by 100 basis points to 5.40%, and increased the two sides of the interest rate corridor by the same extent. Previously, the board raised the key interest rate by 100 basis points to 4.40% […]

Hungarians Love Cash, Even More Than Before

D&T
Apr 15, 2022

The amount of cash in circulation in Hungary has hit a record in recent months. The explanation is likely to be the uncertainty caused by the war in Ukraine, but the central bank says there is no reason for Hungary to worry. Never before has so much cash been in the hands of Hungarians as […]

National Bank Raises Base Rate by 100 Points

D&T
Mar 22, 2022

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, […]

Money Museum Opens in Budapest

D&T
Mar 15, 2022

The Money Museum of the National Bank of Hungary (MNB) will open an interactive exhibition in the newly renovated Postapalota (‘Postal Palace’) from March 16, with a special focus on young people, the Hungarian state news agency MTI reports. The interactive exhibition on the history of money and the operation and future of money management […]

National Bank Orders Sberbank to Close for Two Days

D&T
Feb 28, 2022

From this Monday, the National Bank of Hungary (MNB) ordered two bank holidays at the Hungarian Sberbank at the request of the credit institution. During this period customers will be able to make bank card transactions and can receive incoming items on their accounts but will not be able to perform account transactions. The MNB […]

50bps Prime Interest Rate Rise By MNB Not Surprising

D&T
Feb 22, 2022

The decision of the Monetary Council of the Magyar Nemzeti Bank (MNB) on Tuesday was in line with expectations, and the publication of the latest inflation report may bring a change in central bank policy, analysts told the state news agency MTI. The National Bank of Hungary (MNB) raised its benchmark base rate by 50bps […]

Hungarian Currency at Historic Low Against the Euro

D&T
Nov 22, 2021

Despite the National Bank of Hungary (MNB) raising the policy rate by a total of 70 basis points in two steps last week, the Hungarian forint (HUF) fell to a new historic low against the common European currency (EUR) on Monday morning. In one day, the euro exchange rate broke through the psychological barrier of […]

Mobile Payments Spreading Fast in Hungary

D&T
Nov 3, 2021

According to data by the National Bank of Hungary (MNB), the number and value of mobile payment transactions more than doubled between the second quarter of 2020 and the second quarter of 2021. The growing popularity of smartwatch payments could further boost the uptake of innovative solutions in Hungary. "We are always very happy to […]

National Bank: a Further Step Towards a Green Economy

D&T
Aug 5, 2021

The National Bank of Hungary (MNB) has published the notice setting out the technical conditions of the Green Mortgage Bond Purchase Programme and the Mortgage Bond Rollover Facility and has decided to fine-tune the collateral management framework by improving the conditions of green securities. In July 2021, The Monetary Council reviewed and approved the MNB’s […]

National Bank Raises Prime Interest Rate Again

D&T
Jul 30, 2021

At its meeting on July 27, 2021, the Monetary Council of the National Bank of Hungary (Magyar Nemzeti Bank – MNB) reviewed the latest economic and financial developments and decided to increase the central bank base rate by 30 basis points to 1.20% in effect from the next day. The goal of the measure is […]

Visegrád Group Central Bank Governors Conference

D&T
Jul 19, 2021

The National Bank of Hungary (MNB), the country's central bank, has organised a high-level conference on the occasion of the 30th anniversary of the establishment of the Visegrad Cooperation. Among the speakers of the conference, titled 'Gradual Transition into a Greener Economy – Challenges and opportunities', the bank welcomed the central bank governors and deputy […]

Green Monetary Policy Toolkit Strategy at MNB

D&T
Jul 6, 2021

The Monetary Council of the National Bank of Hungary (MNB) reviewed and approved the Bank's Green Monetary Policy Toolkit Strategy. The MNB's mission is to implement monetary policy tools that - without jeopardizing its primary objective – would ensure long-term environmental sustainability, and thereby contribute to Hungary's sustainable convergence. The Bank's press release points out […]

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