FED Tapering Will Not Influence Hungary Monetary Policy

  • 16 Jan 2014 8:00 AM
FED Tapering Will Not Influence Hungary Monetary Policy
The winding down of the US Federal Reserve’s asset purchase programme will not affect the monetary policy of the National Bank of Hungary, the bank’s deputy governor Ádám Balog said at a conference in Vienna. The Fed’s “tapering” will not prompt the NBH to raise the base rate, Balog told the Euromoney conference.

He added that the NBH was monitoring the situation, but said the tapering did not have a direct impact on Hungary. The NBH’s monetary policy is mainly determined by fundamental processes, with real economic processes justifying a low-interest environment, which is also supported by the external low-interest environment, he said.

From the point of view of stability, macroeconomic indicators are also good, the country is an attractive target for investors, and the forint has been stable in the past twelve months, he added.

Source www.hungarymatters.hu

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