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UPDATE 1-Hungary s central bank to keep up monthly rate rises -deputy governor
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Hungary central bank announces steps to boost green mortgage lending
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Zoltan Simon and Veronika Gulyas, Bloomberg News BC-Hungary-Takes-Pole-Position-for-EUâs-First-Rate-Hike-of-2021 , Zoltan Simon and Veronika Gulyas
(Bloomberg)
Hungary moved into pole position to implement the European Unionâs first interest-rate hike since the pandemic as soaring inflation prompts policy makers to act in the blocâs east.
The nearby Czech Republic had been the EUâs most likely first mover until Hungarian central bank Deputy Governor Barnabas Virag said Monday that surging prices will be met by tighter monetary policy as soon as next month sparking gains in the forint.
The bank should consider lifting its benchmark rate in June as part of a âdata-drivenâ tightening cycle carried out in several steps, Virag told a briefing in Budapest. Even in the event of a hike, quantitative easing will continue, with the program to only be wound down gradually, he said.
by Tyler Durden
Monday, May 17, 2021 - 07:58 AM
US equity futures and European stocks dipped in a quiet overnight session to start the week amid renewed concerns about rising inflation and a spike in Covid-19 cases in parts of the world. Gold briefly reached a three-month high, while oil and the dollar were little changed; 10Y TSY yields rose after dropping earlier in the session.
At 715am ET, Dow e-minis were down 125 points, or 0.36%, S&P 500 e-minis were down 17 points, or 0.39%, and Nasdaq 100 e-minis were down 46 points, or 0.34%, reversing much of Friday’s rebound.
Wall Street s main indexes rebounded on Thursday and Friday as investors picked up beaten-down stocks following a pullback earlier in the week on concerns around inflation and a possible tightening by the U.S. Federal Reserve. However, the mood reversed on Monday with travel, oil & gas and industrials the weakest sectors, while telecoms and autos were strong. Shares of Discovery jumped 12.5% in premarket tradin
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