Hungary cenbank ramps up 率s to pull 支援する forint from brink

引き上げ(る)s 夜通し collateralised 貸付金 率 to 25% from 15.5%

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Cbank 開始する,打ち上げるs new one-day deposit 道具 at 18%

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Will 供給する FX from reserves to 支払う/賃金 for energy 法案s

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対策 すぐに shore up 事情に応じて変わる forint

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を取り引きする EU on 基金s, tight 財政政策 is 重要な-分析家s

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(Recasts with 分析家s, 状況, forint)

By Krisztina Than and Gergely Szakacs

BUDAPEST, Oct 14 (Reuters) - Hungary's central bank on Friday 突然に ramped up 利益/興味 率s and said it would 供給する foreign 通貨 from its reserves to 支払う/賃金 for the country's 殺到するing energy 輸入するs in an 緊急 move to shore up the 乱打するd forint.

The 驚くべき/特命の/臨時の 引き上げ(る) in the 夜通し collateralised 貸付金 率 to 25% from 15.5% and the 開始する,打ち上げる of a new one-day deposit tender at a 率 of 18% (機の)カム after the forint slid to 記録,記録的な/記録する lows versus the euro and the dollar this week, 圧力d by a 広げるing 貿易(する) gap and 欠如(する) of 接近 to European Union 基金ing 予定 to the 政府's 論争s with Brussels.

Last month the EU (n)役員/(a)執行力のある recommended 一時停止するing 基金s 価値(がある) 7.5 billion euros ($7.29 billion) over what it sees as Hungary's 失敗 to 戦闘 汚職 and 支持する the 支配する of 法律, 誘発するing a sell-off in the forint and Hungarian 社債s at a time when the dollar is 殺到するing and 投資家s are selling riskier 現れるing markets.

The 政府 has 誓約(する)d to 配達する on its かかわり合いs to 突き破る off the 中断 of the 基金s.

投資家s also 増加するd their bets against the forint after the Hungarian central bank last month stopped its 大規模な 率-引き上げ(る) cycle with the base 率 at 13%, にもかかわらず インフレーション still 存在 on the rise.

The forint sell-off 誘発するd the bank to leap into 活動/戦闘 on Friday, which すぐに 強化するd the 通貨.

"In the 現在の 騒然とした period in 財政上の markets, a 重要な 仕事 for the NBH is to 確実にする market 安定, in 新規加入 to 会合 its 最初の/主要な 客観的な of price 安定," the bank said in a 声明.

"The NBH stands ready to 介入する using every 器具 in its 通貨の 政策 toolkit to 確実にする these."

The forint, jumped to 416.50 versus the euro from 428 on the bank's 緊急 moves and 貿易(する)d around 418.50 at 1212 GMT.

"This can be seen as an 緊急 率 引き上げ(る) using a 戦術の 武器," said Peter Virovacz at ING in Budapest.

"This new O/N quick tender 供給するs a 一時的な, 高度に 効果的な 道具 確実にするing 早い and 柔軟な 実施 of tighter 通貨の 政策 条件 in 騒然とした times."

Earlier on Friday Orban said that he had asked the 大蔵大臣 and the 知事 of the central bank to at least halve the インフレーション 率 by the end of 2023.

副 知事 Barnabas Virag told an online 要点説明 on the 決定/判定勝ち(する) that the bank would 供給する foreign 通貨 from its reserves to energy group MVM to 支払う/賃金 for energy 法案s, 緩和 圧力 on the forint market where MVM's 購入(する)s have been 弱めるing the forint.

Virag said on a 月毎の basis, this would 要求する 1.2 billion to 1.5 billion euros from foreign 交流 reserves until the end of the year. FX reserves stood at 38.7 billion euros at the end of September. He said this move should help 改善する 供給(する) and dem and 条件s in the forex market.

"Also, we have 開始する,打ち上げるd an 夜通し 早い deposit tender at 18% and we will continue to 持つ/拘留する these tenders in coming days until we see a healthy balance of 供給(する) and 需要・要求する in the FX market," Virag said. He said coming days would decide how long the bank had to 持続する the daily tenders.

When asked if the bank was ready to 再開する a 引き上げ(る) in the base 率 if needed, Virag said the 利用できる インフレーション data was "for the time 存在" in line with the bank's September インフレーション 報告(する)/憶測, 暗示するing the base 率 at 13% was appropriate.

However, he also said the bank was continuously 監視するing all 後継の data in the volatile 環境 予定 to the war in ウクライナ共和国. Headline インフレーション topped 20% in September.

'PUNITIVELY EXPENSIVE'

分析家s said the NBH's 対策 could 茎・取り除く 憶測 against the forint and put a 床に打ち倒す under the 通貨 in the short 称する,呼ぶ/期間/用語, but the longer-称する,呼ぶ/期間/用語 解答 is getting the EU 協定 調印(する)d and lowering the 予算 赤字 with disciplined 財政政策.

Earlier this week the 大蔵大臣 誓約(する)d 会計の prudence.

"They have ...大幅に 引き上げ(る)d the upper end of the 率 回廊(地帯) from 15.5% to 25%. Even in Hungary that is an eyebrow-raising move," said Viktor Szabo at Aberdeen 基準 投資s.

"If you are shorting the HUF and the central bank 押し進めるs the 基金ing 率s to these levels it becomes punitively expensive to short it." ($1 = 1.0284 euros) (令状ing by Krisztina Than, 報告(する)/憶測ing by Gergely Szakacs and Krisztina Than, 付加 報告(する)/憶測ing by Marc Jones in London Editing by Gareth Jones)

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