ECB says Hungary has infringed central bank autonomy

Frankfurt says restrictions on bond buying interfere with monetary policy

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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