Hungary’s government moved to resolve a dispute with the central bank over the way corporate loan interest rates should be calculated, a spat that had weighed on the country’s currency. Banks have “voluntarily” agreed to reduce their margins over the interbank reference rate to zero for six months, applicable to new corporate loans taken out between February and April, according to an Economy Ministry statement on Monday, effectively dropping its bid to to replace the reference gauge. The forint has been the world’s worst-performing currency over the past two weeks, in part due to an escalating standoff between the ... (full story)