Hungary's Central Bank Act returned to parliament

The President of Hungary Ferenc Madl failed to sign on Monday 29 November the modifications to the Central Bank Act passed by parliament last week, Interfax-Europe reports. Instead, the president sent the law back to parliament for further consideration, it said.

The report said Madl made a statement noting that the contents of the law run counter to its declared intents, which were strengthening central bank independence and increasing efficiency. While the European Central Bank (ECB) said th