Hungarian parliament passes new central bank act

HUNGARY - The Hungarian parliament passed the new Central Bank Act late evening of 19 June. The new act relegates supervisory authority over the National Bank of Hungary (MNB) to the State Audit Office (ASZ), and replaces the current central bank council with a so-called monetary council.

The law stipulates that the primary goal of the MNB is achieving and maintaining price stability, and that it supports the government's economic policies without endangering this goal. The monetary council, r

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