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The National Bank of Hungary (NBH) on Tuesday said it is limiting the amount of repayable funds by Sberbank Magyarország to 7 million forints (EUR 18,900) per customer from March 2 to thirty days onwards to maintain the safe operation of the credit institution.
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The forint traded at 370.49 to the euro around 5.30pm on Monday, recovering after slipping past 372.50 earlier in the day, hitting a new historical low.
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The BUX index fell by almost 10% on Thursday, led by the 15% plunge in OTP shares, following Russia’s invasion of Ukraine.
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Annual wage growth in Hungary slowed to 9.7% in December from 10.1 percent in the previous month, the Central Statistical Office (KSH) said on Wednesday.
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Inflation is accelerating further from the 7.9% year-on-year reached in January to over 8%, and perhaps even 8.5% in February, MNB chief economist Barnabás Virág told a press conference after the central bank raised the base rate on Tuesday.
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The Hungarian minimum wage, after the increase made this year, is the fourth lowest in the EU, having been fifth lowest in 2010, Népszava reports, citing Eurostat figures.
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