Hungary central bank raises one-week deposit rate by 30 bps to 4.6%

BUDAPEST – Hungary’s central bank raised its one-week deposit rate by 30 basis points to 4.6% at a weekly tender on Thursday, as expected, two days after it raised its base rate by 50 basis points to 3.4%.

The bank uses the one-week deposit rate to tackle short-term market volatility. On Thursday the forint had fallen to 364.47 versus the euro by 0832 GMT from around 360 on Wednesday, after Russia attacked Ukraine.

(Reporting by Krisztina Than; editing by Jason Neely)