Budapest, 14 July. In order to strengthen monetary transmission, the Magyar Nemzeti Bank is switching from overnight to tomnext maturity regarding its euro liquidity providing foreign exchange swap tenders launched on 8 July, which will be held on a daily basis from 15 July.
The Magyar Nemzeti Bank (MNB) continues to closely monitor developments in the swap market. In order to ensure that short-term rates in every sub-market, particularly in the swap market, and at all times develop consistently with the level of short-term rates deemed optimal by the Monetary Council, the central bank will switch from overnight to tomnext maturities for the euro liquidity foreign exchange swap tenders launched on 8 July, which will be held daily from 15 July. Through an active market presence, the MNB will strengthen the efficiency of monetary transmission, thereby supporting the achievement and maintenance of price stability.
The MNB will hold both overnight and tomnext maturity swaptenders on Friday 15 July 2022, and tomnext maturity swaptenders will be held from Monday 18 July 2022 on a daily basis. The call for tender containing the parameters of the swaptenders will be published by the MNB on the central bank's website and news agency pages at 9:00 on the day of the tender.
The MNB continues to constantly monitor developments in financial market risks and stands ready to intervene in a decisive manner using every instrument in its monetary policy toolkit, if necessary, to achieve and maintain price stability.