Hungary’s central bank raised the rate for overnight collateralised loans by 950 basis points to 25% effective Friday, the monetary council said in a statement.

The gap between Budapest and Hungary’s other regions in terms of GDP per capita is still large, Tibor Navracsics, the minister of regional development, said on Friday. Large cities and other regions require different development approaches, he told a conference organised by the Századvég think-tank.

Hungarian construction sector output in August was flat in an annual comparison, the Central Statistics Office (KSH) said on Friday. In July output had grown by an annual 3%, KSH noted.

The HUF strengthened against the leading currencies early Friday morning, compared to Thursday evening’s levels.

An “unprecedented” wage hike awaits teachers if the government reaches agreement with the European Commission on EU funding currently withheld due to the rule-of-law conditionality mechanism, the prime minister’s chief of staff has said.

The Socialist head of parliament’s budgetary committee on Wednesday called on the government to submit a new budget, arguing that “pushing through” the budget as early as July had been a “mistake” in a volatile economic environment.

Consumer prices in Hungary rose by an annual 20.1% in September, accelerating from a 15.6% increase in the previous month, driven by higher food and household energy prices, the Central Statistical Office (KSH) said on Tuesday.