ECB lambasts Hungarian financial transaction tax


The European Central Bank (ECB) on July 24 issued a stinging opinion accusing the Hungarian government of impairing the National Bank of Hungary's "functional and institutional independence" by forging ahead with a controversial financial transaction tax.

Under the new law, a 0.1% charge is levied on transactions carried out by the central bank, with no ceiling set. This, the ECB said, disrupts the monetary policy transmission mechanism by affecting the attractiveness of overnight deposits and c

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: