March 24, 2020 / 3:28 PM / 15 days ago

Hungary cbank's new loan instrument to stabilise govt bond market - deputy governor

BUDAPEST, March 24 (Reuters) - The Hungarian central bank’s new fixed-rate collateralised loan instrument can support the stabilisation of the government bond market, Deputy Governor Marton Nagy said on Tuesday after the bank left interest rates on hold.

“This tool will be able to stabilize not only lending, but also the government securities market...and this is what we have seen today,” Nagy said referring to a drop in yields especially at the long end of the yield curve. (Reporting by Gergely Szakacs and Krisztina Than)

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