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MNB acknowledges gov't steps to ensure central bank independence

The National Bank of Hungary acknowledged in a statement on Wednesday the government's undertaking of guarantees to ensure the central bank's independence.

The MNB also welcomed a start to talks on precautionary financial assistance Hungary is seeking from the International Monetary Fund and the European Union. The bank said it would also participate at the talks.

The European Commission said earlier on Wednesday that Hungary had taken "sufficient action and commitments" to start negotiations on the financial assistance. The Commission earlier launched an infringement procedure against the country over concerns about its central bank legislation.