Conflicting Debt Target and Policies

HUNGARY - Report 04 Aug 2014 by Istvan Racz
Executive Summary This month, our focus is on the recent official measures on the budget, central bank interest rates and FX debt. A similarly important story is the continuation of the domestic banking saga, including compensations payable by banks to borrowers, the planned conversion of the FX debt of households into HUF, the setting up of a ‘bad bank’ to buy non-performing loans from domestic enterprises, and most recently the acquisition of MKB Bank by the government. Further issues are the apparent peaking of the domestic business cycle and the most recent events in domestic politics. ...

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