Varga: Gov't Respects MNB's Independence
Image by Alexandros Michailidis / Shutterstock.com
Minister of Finance Mihály Varga acknowledged that his ministry, in consultation with the European Central Bank, was weighing the possibility of extending the scope of competence of the supervisory board of the National Bank of Hungary (MNB) with regard to the central bank's non-basic tasks in a message posted on his Facebook page.
The government's goal is to strengthen the transparency of the MNB while respecting its independence and to ensure the frugal operation expected of state offices, Varga said.
The government has built the ECB's observations on the draft amendments to the central bank act into its proposal, he added.
Prime Minister Viktor Orbán believes the central bank's independence is "sacrosanct," the PM's press chief, Bertalan Havasi, said later yesterday, responding to remarks by MNB Governor György Matolcsy.
Havasi said the government had not yet discussed the draft amendments affecting the scope of the MNB's supervisory board.
Watchdog Fines OTP Bank for Regulatory Shortfalls
Gov't Launches HUF 150 bln Job Placement Scheme for Over-30s
Biggeorge Adds 2 New Directors to Top Management
Tastin' France 2024 Wine Event Coming in June
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
