Hungarian central bank council member resigns

Gabor Oblath, a member of the National Bank of Hungary's rate setting Monetary Council will resign from his post Monday, the prime ministers office said.

Oblath informed Prime Minister Peter Medgyessy of his intention to resign at their meeting last Wednesday, where Medgyessy consulted economists on Hungary's recent financial turmoil.

Oblath was scheduled to formally announce his resignation and explain his decision to resign at the scheduled Monetary Council meeting on Monday.