The MNB is committed to achieve the inflation target in a sustainable manner. Looking ahead, financial market stability remains key to achieve price stability. The MNB will pay particular attention to maintain the stability of the swap market and will continue to strengthen the effectiveness of monetary transmission through an active market presence.
To this end, the MNB will increase the amount of foreign exchange swap tenders providing euro liquidity, available to banks on regular daily tomnext swaps, from EUR 5 billion to EUR 6 billion from 1 September. In addition, the central bank will continue to strengthen the effectiveness of monetary transmission through regular discount bond auctions, in order to ensure that the interest rate conditions set by the Monetary Council are reflected in a broad range of financial markets.