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Bulletin: Hungary's Exchange Rate Shift Has No Effect On Ratings, But Proposed Tax Cuts Are A Concern

Published Feb 28, 2008

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Abstract:

FRANKFURT (Standard&Poor's) Feb. 28, 2008--Standard&Poor's Ratings Services today said the Republic of Hungary's (BBB+/Stable/A-2) decision to abandon its exchange rate band, while commendable, has no immediate impact on the ratings. The move to abandon the exchange rate band (which spanned 15% either side of the central parity of HUF282.4 per euro) should increase the flexibility of monetary policy by removing the potential conflict between the National Bank of Hungary's (NBH) inflation target and exchange rate policy. For now, however, the decision is unlikely to have an immediate and tangible impact, with the Hungarian forint (HUF) currently trading at HUF260 versus the euro, and not near the stronger end of the previous band (HUF240). Furthermore, a significant

Report Type:

Bulletin

Ticker

1182Z@HB

Issuer

Hungary

Sector

Global Issuers

Country

Hungary

Region

Europe, Middle East, Africa

Format:

PDF

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MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Hungary's Exchange Rate Shift Has No Effect On Ratings, But Proposed Tax Cuts Are A Concern" Feb 28, 2008. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Hungary-s-Exchange-Rate-Shift-Has-No-Effect-On-Ratings-But-Proposed-Tax-Cuts-Are-A-Concern-633015>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Hungary's Exchange Rate Shift Has No Effect On Ratings, But Proposed Tax Cuts Are A Concern Feb 28, 2008. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Hungary-s-Exchange-Rate-Shift-Has-No-Effect-On-Ratings-But-Proposed-Tax-Cuts-Are-A-Concern-633015>

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