Hungary Seen Chasing $2.3 Billion From Central Bank Deposit

The National Bank of Hungary will gradually crimp the amount of cash domestic lenders pour into its main deposit instrument this year as it looks to push interest rates for trillions of forint in loans and securities below its key rate.

Central bankers will probably put a cap on access to its three-month deposit instrument at 1.5 trillion forint ($5.4 billion) at the Sept. 20 monetary-policy meeting and gradually reduce it to 1 trillion forint by year-end, according to the median estimate of seven economists in a Bloomberg survey. That compares with total deposits of 1.63 trillion forint on Wednesday and as much as 3.1 trillion in February.