December 12, 2016 / 9:48 AM / a year ago

Hungary cbank to maintain loose monetary conditions -Governor

BUDAPEST, Dec 12 (Reuters) - The National Bank of Hungary will maintain loose monetary conditions, Governor Gyorgy Matolcsy told a parliamentary committee hearing on Monday.

“We will maintain loose financial conditions,” Matolcsy said in response to lawmakers’ questions. “Regarding the base rate, deposit and lending rates, regarding targeted programmes, we facilitate the bank system to maintain (higher) lending levels.”

Matolcsy also said the stability of the exchange rate of the forint was important and the bank did not focus on any particular exchange rate level.

He also said the bank maintained its 2016 economic growth forecast of about 3 percent despite more pessimistic views from analysts and even the government, adding that 2017 GDP growth could reach 3.5 to 4 percent based on current estimates. (Reporting by Gergely Szakacs)

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