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Hungary

Smaller MPCs rely more on staff views

The use of staff-policy recommendations by central banks' monetary policy committees is negatively related to the size of the rate-setting board, research published by the National Bank of Hungary finds.

EBRD appoints Mirow as chief

Thomas Mirow, the state secretary of the German Finance Ministry, will replace Jean Lemierre as head of the European Bank for Reconstruction and Development, the development bank for most of Central and Eastern Europe.

Hungary abandons euro peg

The Hungarian authorities have abandoned the forint's peg to the euro and moved to a floating exchange rate in a bid to lower inflation and speed up euro-accession.

Euro expectations stabilise currencies

Relatively stable market expectations for euro-locking rates have fixed the exchange rates of three central European currencies, research published by the National Bank of Hungary finds.

Hungary's Simor questions Maastricht criteria

Andras Simor, the president of Hungary's central bank, told reporters in Bucharest on 17 July that the Maastricht criteria for the adoption of the euro "might not be as appropriate for emerging countries as for the more developed ones."

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