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Moody’s Investors Service on Tuesday said it took rating actions on six Hungarian banks, following the upgrade of Hungary’s sovereign rating to Baa2 from Baa3, with a stable outlook, on Friday.
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Moody’s Investors Service upgraded Hungary’s sovereign rating to Baa2 from Baa3, with a stable outlook, at a scheduled review.
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Hungarian rate-setters raised the central bank’s base rate by 15 basis points to 1.65% at a scheduled meeting on Tuesday.
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To keep Hungary on a growth path the government must launch its economic recovery and resilience programme in all parts of the country, Finance Minister Mihály Varga said on Friday.
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It would be a mistake to underestimate the risk of a persistent rise in inflation, National Bank of Hungary deputy governor Barnabás Virág said, noting that inflation is rife around the world partly due to rapid post-pandemic recoveries.
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Hungary issued 4.25 billion dollars of dollar bonds in a transaction that was four times oversubscribed, under favourable conditions, at a low interest rate and 10- and 30-year maturities, Finance Minister Mihály Varga said in a video on Facebook.
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