Budapest – Hungary’s leading banks have formally urged the Constitutional Court to overturn the government’s controversial mortgage rate freeze, a measure introduced by Prime Minister Viktor Orbán’s administration to shield borrowers from rising interest costs amid soaring inflation. The freeze, implemented last year as part of a broad intervention in the financial sector, has sparked growing tensions between the government and lenders, who argue that the policy undermines contractual agreements and threatens the banking sector’s stability. Reuters reports on the latest developments as the dispute moves into the judicial arena, highlighting the broader economic and political implications for Hungary’s struggling housing market and financial system.
Hungary’s Banks Challenge Government Mortgage Rate Freeze at Constitutional Court
Hungary’s leading financial institutions have formally submitted a petition to the Constitutional Court, contesting the government-imposed freeze on…
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Author : Jackson Lee
Publish date : 2025-06-02 02:04:00
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