BUDAPEST, Oct 22 (Reuters) – Hungary’s government will expand its existing cap on mortgage rates from mid-November to include variable-rate loans to small- and medium-sized businesses, Minister for Economic Development Marton Nagy told a briefing on Saturday.
Nagy said rates on these business loans will be capped at the 3-month interbank rate of June 28, which was 7.77% as opposed to the current rate of 16.69%. The measure is effective until July 1, 2023, similar to the existing cap on household mortgage rates, Nagy said.
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Reporting by Krisztina Than; Editing by Kirsten Donovan
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