Simor tells MPs issues with central bank legislation remain

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Amendments to the Central Bank Act submitted by the government clear up questions on which agreements have already been reached, but contested matters remain, National Bank of Hungary governor András Simor told Parliament's Economy and IT Committee on Monday.
Legislation linking the remuneration of the central bank's executives to a cap on public sector salaries, creating the possibility of establishing a position for a new, third deputy governor, and expanding the rate-setting Monetary Council remain matters against which not only the MNB, but also the European Central Bank, have objected, Simor said.
He explained that expanding the Monetary Council and naming a new deputy governor were unjustified measures, and that the MNB's decision-makers were not public servants.
 Committee chairman Antal Rogán, an MP of governing Fidesz, noted the importance of keeping the MNB's independence from harm, but he deemed the amendments to the Central Bank Act already submitted acceptable, and he added that the government positions that are not accepted by Brussels could be corrected in the course of parliamentary debate.

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