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PM stresses close cooperation between govt, central bank to restore confidence in forint

The government and the central bank must work together in the closest possible cooperation to strengthen confidence in the forint, Prime Minister Viktor Orban said after a meeting with National Bank of Hungary governor Andras Simor.

Mr Orban said it was agreed that the central bank would consult with the National Economy Ministry on a daily basis in the interest of re-establishing confidence in the forint. The government fully supports the central bank and the central bank governor in the interest of preserving the value of the forint and the stability of the financial system, he added.

The forint weakened to a historical low of 324.27 to the euro on Thursday.

Mr Orban and Mr Simor were joined at the meeting by minister without portfolio in charge of talks with the IMF and EU Tamas Fellegi and state secretary of the Prime Minister’s Office Mihaly Varga.

Mr Orban said the meeting was initiated by Mr Simor.

The prime minister said he asked the central bank to participate in drawing up the government’s plan for economic growth.