Lithuania boosts cbank independence in law

The Lithuanian parliament on Mar 13, 2001 approved amendments to the law on the central bank aimed at cementing its independence and giving the institution more freedom to shape monetary policy.

The bill was approved with an 80-1 vote with eight abstentions and the rest of the MPs from the 141-member chamber absent or not participating in the vote, Parliament Speaker Arturas Paulauskas told the legislature.

The bill will also shift the main focus of the bank to price stability from currency sta