Hungarian central bank blasts government tax plan

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The National Bank of Hungary (NBH) has responded angrily to government plans to impose a tax on the central bank's financial transactions, saying that the levy would put the Bank's independence at risk and have a limited effect on the fiscal deficit.

In a letter sent to the government on July 3, András Simor, the central bank's governor, explained that the tax would be equivalent to a loosening of monetary policy if passed on to users of the NBH's services. "If the full amount of tax was passed

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