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’s toxic-sludge spill, which killed four people and injured more than 100, reached the Danube river today. Officials said environmental damage may be limited because the level of alkalinity is “favorable.”
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 second interest-rate cut in as many months shows Premier Viktor Orban’s allies have isolated central bank President Andras Simor and chosen economic growth over inflation, according to analysts from London to Budapest.
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.