BUDAPEST (Reuters) – The Hungarian government will expand its current mortgage rate cap from mid-November to include floating rate loans for small and medium-sized businesses, Economic Development Minister Marton Nagy told a news briefing on Saturday.
The interest rates on these commercial loans will be set at the 3-month interbank rate on June 28, which was 7.77% against the current rate of 16.69%, Nagy said. Nagy said the measure is in effect until July 1, 2023, similar to the current ceiling for household mortgage rates.
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Reporting by Krisztina Than; Editing by Kirsten Donovan
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