National Bank of Hungary (MNB) - Diplomacy & Trade

Central Bank Base Rate Raised to a 22-Year-High Level

D&T — Fri, 30 Sep 2022 07:42:00 +0000

At its meeting this week, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided to raise the central bank base rate with 125 basis points to 13.00% with effect from September 28, 2022. Experts recall that the last time the base rate was this high […]

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New Hungarian Folk Tales Collector Coin

D&T — Thu, 29 Sep 2022 18:15:00 +0000

The National Bank of Hungary (MNB) will issue a collector coin of HUF 2,000 called ‘Király kis Miklós’ (King Little Cause) on writer Elek Benedek’s birthday, on the day of Hungarian folk tales. This collector coin is the second piece of the seven-piece non-ferrous metal collector coin series, launched last year, whose dedicated objective is […]

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New Project Launched in National Bank's Green Program

D&T — Fri, 16 Sep 2022 07:28:00 +0000

Under its Green Program, the National Bank of Hungary (MNB) has launched a research methodological project to assess the financial risks related to the decline in biodiversity and to develop financial supervisory methodologies to address those risks, according to a press release by the Bank. The nearly two-year project is financed by the European Union […]

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The Golden Florin of János Hunyadi - Collector Coin

D&T — Tue, 06 Sep 2022 13:59:00 +0000

The National Bank of Hungary (MNB) will issue a particularly valuable gold collector coin named ‘Hunyadi János aranyforintja’ (The Golden florin of John Hunyadi) in single and in piedfort version, which is four times the weight of a normal coin, an MNB statement says. In line with the traditions of central bank issuances, the non-ferrous […]

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Hungary's Central Bank Raises Base Rate to 18-Year High

D&T — Tue, 30 Aug 2022 12:28:00 +0000

At its meeting on August 30, 2022, the Monetary Council of the National Bank of Hungary (MNB) reviewed the latest economic and financial developments and decided on raising the central bank base rate by 100 basis points to 11.75% - the highest in 18 years - with effect from August 31, 2022. This means that […]

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Hungary's State Debt Grows Further

D&T — Thu, 18 Aug 2022 07:57:00 +0000

Including the debt of the country's Eximbank, the Hungary's state debt amounted to 77.5% of GDP (HUF 46,264 billion). According to preliminary financial accounts data, net lending of households was equivalent to 5.2% of GDP in 2022 Q2 (HUF 3,102 billion), the National Bank of Hungary (MNB) reports. As preliminary financial accounts data suggest, general […]

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Hungary’s Current Account Deficit Grows to EUR 806 Mn

D&T — Mon, 15 Aug 2022 09:08:00 +0000

After a decline in May, the monthly current account deficit in Hungary widened to EUR 806 million in June, the same level as in previous months, according to preliminary data released by the National Bank of Hungary (MNB) on Monday. The current account deficit was EUR 370 million in May and EUR 780 million in […]

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National Bank Raises Prime Interest Rate again

D&T — Tue, 26 Jul 2022 12:39:00 +0000

This Tuesday, the National Bank of Hungary (MNB) raised its base rate by one percentage point, bringing the base rate, which is again the benchmark rate, from 9.75% to 10.75%. The last time the interest rate was this high was in late 2008, during the height of the global financial crisis, when it was cut […]

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Collector Coin to Honor Milton Friedman

D&T — Fri, 08 Jul 2022 14:23:00 +0000

In honor of the 110th anniversary of Milton Friedmann’s birth, the National Bank of Hungary will issue a silver collector coin with a face value of HUF 15,000, and its a non-ferrous version of HUF 2,000 on Monday, 11 July 2022. The collector coins come as the second piece in the series presenting Nobel Memorial […]

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Financial Sector: Improvement in Digitalisation

D&T — Mon, 20 Jun 2022 14:31:00 +0000

In 2021, the digital transformation of the financial sector gained new momentum both at international and domestic level. That is according to the National Bank of Hungary (MNB) in its FinTech and Digitalisation Report on the global and Hungarian FinTech ecosystem and the digital maturity of the domestic banking and insurance sector published for the […]

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Five-fold Increase in Card Purchases in Ten Years

D&T — Wed, 08 Jun 2022 11:40:00 +0000

The Financial Stability Council of the National Bank of Hungary (MNB) has discussed and approved the 2022 Payment Systems Report. The Council found that payment service developments in 2021 returned to pre-pandemic trends, bringing about dynamic development in terms of the further spread of electronic payments. The development of the electronic payment infrastructure in Hungary […]

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Collector Coins Commemorate the Golden Bull of 1222

D&T — Fri, 20 May 2022 13:44:00 +0000

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 […]

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Banks Anticipate Tightening Conditions, Slowing Demand

D&T — Fri, 06 May 2022 17:21:00 +0000

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 […]

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EIB-MNB Agreement for Financing Green Projects

D&T — Thu, 05 May 2022 13:24:00 +0000

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 […]

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Key Interest Rate Up by 100 Basis Points in Hungary

D&T — Tue, 26 Apr 2022 12:40:00 +0000

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% […]

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