Zoltan Torok

Hungary to Freeze Budget Items to Escape EU Shackles

Hungary is freezing some budget expenditures and is ready to take further steps, including raising Europe’s highest bank levy, to exit the European Union’s budget monitoring and remove the threat of funding cuts.

Hungary Yields Plummet as Inflation Falls to Least in 39 Years

Hungary’s bond yields declined to the lowest level since 2005 as consumer prices grew at the slowest pace in 39 years, increasing scope for the central bank to cut interest rates.

Hungary to Tap Central Bank Currency Reserves in Growth Plan

Hungary’s central bank will start a 500 billion-forint ($2.1 billion) program to boost lending to help end a recession and plans to use foreign-currency reserves to cut the country’s short-term external debt. The forint rose.

Forint Strengthens, Yields Fall on Matolcsy Central Bank Pick

The forint strengthened and government bond yields fell after Hungarian Prime Minister Viktor Orban picked Economy Minister Gyorgy Matolcsy to become central bank chief.

Hungary to Limit Loan Rescue for Stability, Gyuris Says

Hungary plans no “dramatic” measures to help foreign-currency borrowers, the acting head of the banking lobby said as investors seek clarity amid an overhaul of policy making leadership and a weakening forint.

Hungarian Economy Is in `Grave Situation,' Prime Minister's Spokesman Says

Hungary’s economy is in a “very grave situation,” a government official said, adding to concern about Europe’s sovereign debt crisis, weakening the euro and pushing the forint to a 12-month low.

Hungary Cuts Rate for Fifth Month After Forint Plunges

Hungary’s central bank, roiled by divisions among policy makers, cut the European Union’s highest benchmark rate for a fifth month as policy makers shrugged off the forint’s plunge to a five-month low.

Hungary's Orban Wins Constitutional Majority in Return to Power as Premier

Hungarians returned Viktor Orban to power after eight years in opposition, giving the Fidesz leader a two-thirds majority in parliament, allowing him to change the recession-hit country’s Constitution.

Hungary to Strip Private Pension Fund Members of State Pensions Benefits

Hungary will strip private pension fund members of their state pensions unless they move retirement savings back to the government-run program, Economy Minister Gyorgy Matolcsy said today in Budapest.

Forint Steadies After Plunge as Hungary Central Bank Cuts Rates

The forint steadied after touching the lowest level in almost five months as Hungary’s central bank cut interest rates for a fifth straight month, bringing them to the lowest in two years.

"It seems increasingly likely the rate cut cycle stops at a later date and at a lower rate than previously supposed."

- Zoltan Torok on Apr 11, 2013

Europe

Viktor Orban

Hungary

Gyorgy Matolcsy

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