Prime Minister Orbán calms market worries
Polish parliament amends public finance law
On Friday, Prime Minister Orbán and Economy Minister Varga attempted to dispel fears of market participants concerning plans to convert foreign currency denominated mortgages into domestic currency debt. Orbán stressed that nobody wanted to wreck Hungarian financial system while Varga underlined that the state did not want to create a legal precedent for future public debt rescheduling and assured that current proposals would not be radical. The forint subsequently strengthened but its gains were short lived and the pair EUR/HUF returned back above 297 level by the end of the Friday session.
Read the full report: FX Daily
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