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Hungarian cbank offers to accept HUF 400 bln worth of 3-month deposits on Wed
December 19, 2016 / 3:11 PM / a year ago

Hungarian cbank offers to accept HUF 400 bln worth of 3-month deposits on Wed

BUDAPEST, Dec 19 (Reuters) - Hungary’s central bank offers to accept 400 billion forints ($1.34 billion) worth of funds from commercial banks in its 3-month deposit tool at a tender on Wednesday, the National Bank of Hungary said on Reuters page on Monday.

The central bank said in September that it would cap funds placed by banks in its main 3-month deposit tool at 900 billion forints by the end of this year, squeezing out funds into the economy instead.

At its meeting on Tuesday, analysts expect that the bank will keep its base rate unchanged but could announce a further cut in its 3-month deposits for next year, in order to ease monetary conditions and drive interbank rates lower. ($1 = 297.83 forints) (Reporting by Krisztina Than)

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