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The MNB expects Hungary’s economy to grow by just 1-1.8% this year, a sharp revision from the 2-3% forecast made three months ago, according to preliminary data from the quarterly inflation report to be released.
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The Monetary Council of the National Bank of Hungary (NBH) decided to cut the central bank base rate by 25bp to 6.50pc at a monthly policy meeting.
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The European Commission will start deducting the 200 million euro fine from the funding payable to Hungary as the country has failed to pay by the deadline, the EC's spokesperson said.
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The Hungarian Sustainable Investment and Finance Forum (HuSiF), an initiative to support Hungary's investment and financial service providers in fostering the growth of sustainable investments within the country, has been launched, organiser Aquincum Sustainable Finance Nonprofit said.
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National Economy Minister Marton Nagy met with executives of Revolut Bank at his office in Budapest on Thursday, his ministry said.
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Central bank governor Gyorgy Matolcsy called for a complete turnaround in Hungary's economic policy at the 62nd Itinerant Conference of Economists in Nyiregyhaza (NE Hungary).
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