ECB says Hungary has infringed central bank autonomy

hungary central bank headquarters

The European Central Bank has ruled the Hungarian government has undermined the autonomy of its central bank. In a legal opinion published April 26, the ECB says a government decree is preventing the Central Bank of Hungary (MNB) from freely executing monetary policy.

The ECB objects to a new law that bars certain non-bank financial enterprises, and some individuals, from buying discount bills issued by the central bank.

The MNB introduced these bills in December 2021 to combat inflation. It

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