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UPDATE - Economy, 'recommended changes' to Central Bank Act subject of ECB meeting

Hungary’s economic situation and "recommended changes" to the country’s new Central Bank Act were discussed at a meeting between minister without portfolio Tamas Fellegi, National Bank of Hungary governor Andras Simor and European Central Bank governor Mario Draghi in Frankfurt on Tuesday, ECB spokeswoman Eszter Miltenyi told MTI.

ECB deputy governor Vitor Constancio and board members Peter Praet and Jorg Asmussen also participated at the meeting, Ms Miltenyi said.

Mr Fellegi is in charge of talks on financial assistance for Hungary from the International Monetary Fund and the European Union. He met with representatives of the IMF in Washington last week and continued talks in Germany on Monday and Tuesday. In addition to the ECB officials, he is slated to meet with Bundesbank governor Jens Weidmann and German finance minister Wolfgang Schauble. Mr Simor was only to participate at the talks at the ECB.

Mr Fellegi’s press office said on Tuesday that the minister would make a detailed announcement only after winding up the talks in Germany.