Economics
Hungary Central Bank Expands Funding Plan to Boost Growth
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Hungary’s central bank raised the amount of interest-free funding to commercial banks by 50 percent to boost lending and invigorate economic growth after a recession last year.
The Magyar Nemzeti Bank will raise the total amount of preferential loans to 750 billion forint ($3.4 billion) after lenders bid for more than the 500 billion forint initially offered, President Gyorgy Matolcsy said at a news conference in Budapest today.