Hungarian Prime Minister Viktor Orban said he’s ready to boost Europe’s highest bank levy further to escape the European Union’s excessive-deficit procedure, risking reopening a dispute with the European Commission which has opposed the tax for stifling growth.
The forint rose to the strongest in three months, spurring Goldman Sachs Group Inc. to close its trade recommendation to sell Hungary’s currency against the euro at a loss after the economy emerged from recession.
Hungarian Prime Minister Viktor Orban risked further isolation in the European Union after comparing a remark made by Chancellor Angela Merkel with Nazi Germany’s military seizure of the country in World War II.
The best emerging-market bond rally has further to run as Hungary’s central bank extends interest rate cuts and limits unconventional stimulus measures, according to Pioneer Investments and Erste Sparinvest KAG.
Hungary’s central bank will use all methods at its disposal to help sustain economic growth after an “encouraging” start of the year, Magyar Nemzeti Bank President Gyorgy Matolcsy and his deputy Adam Balog said today.
Hungary’s economy probably exited its second recession in four years in the first three months of 2013, posting growth from the previous quarter for the first time since 2011, a survey of economists showed.