June 25, 2020 / 9:54 AM / 19 days ago

Hungary central bank says risk buffer to remain at 0% beyond July

BUDAPEST, June 25 (Reuters) - Hungary’s central bank will keep the countercyclical capital buffer rate at 0% beyond July as the indicators it monitors do not signal an overheating in lending, it said on Thursday.

“At the beginning of 2020 the coronavirus pandemic created an economic situation that also affects the financial cycle,” the National Bank of Hungary said in a statement.

“Due to the expected financial-economic shocks related to the pandemic, the build-up of the countercyclical capital buffer may be delayed beyond what was previously expected.” (Reporting by Gergely Szakacs; Editing by Catherine Evans)

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