May 5, 2020 / 7:12 AM / 24 days ago

Hungary central bank launches government bond purchases

BUDAPEST, May 5 (Reuters) - Hungary’s central bank announced its first government bond purchase tender on Tuesday, offering to buy 2030/A, 2031/A and 2038/A government bonds from local lenders.

The central bank did not specify the amount of bonds it would buy at the inaugural tender. Results will be announced at 1100 GMT.

The bank, which has said it could buy up to 100 billion forints ($308.85 million) worth of bonds per week, launched the purchases to drive down longer-dated government debt yields it considers too high. ($1 = 323.7800 forints) (Reporting by Gergely Szakacs)

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