Hungary: Central bank rejects PM's plea on rates

HUNGARY - Zsigmond Jarai has said that the current rate of interest is appropriate.

A report from Hungarian TV2 satellite service states that the chairman of the National Bank of Hungary said that there was no need for changing monetary policy provided that the government reduce public finance overspending to the planned size. Zsigmond Jarai said this in response to a statement by Prime Minister Peter Medgyessy at a conference staged by The Economist yesterday.

The prime minister said that he

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