June 30, 2020 / 6:04 AM / a month ago

Hungary central bank says will not buy any govt bonds this week

BUDAPEST, June 30 (Reuters) - Hungary’s central bank will not buy any government bonds from local banks this week, it said on Tuesday,.

The bank launched the tenders in early May as part of efforts to shore up the economy hit by the coronavirus pandemic.

However, it suspended the purchases early this month after buying 149 billion forints ($469.59 million) worth of bonds from local lenders, a fraction of the originally targeted amount.

Last week the bank said it considered the programme a safety net, to be used only to the extent necessary. ($1 = 317.3 forints) (Reporting by Gergely Szakacs)

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