Talks on Hungary Central Bank Act held at ECB headquarters


Representatives of the Hungarian government, the National Bank of Hungary, the European Central Bank, the European Commission and the International Monetary Fund held informal talks to clear up issues surrounding Hungary's Central Bank Act at ECB headquarters in Frankfurt on Monday, the National Economy Ministry told MTI late in the day.

The parties at the talks declined to reveal any further information.

MTI learnt that the ministry was represented by deputy state secretary for financial policy Roland Nátrán at the talks. Hungary's central bank was represented by deputy governor Ferenc Karvalits.

National Economy Minister György Matolcsy recommended the talks to ECB governor Mario Draghi earlier.

The ECB expressed concern over changes to the Central Bank Act in an opinion published on its website last Thursday.

Ensuring the independence of the National Bank of Hungary in the Central Bank Act is seen as a precondition for the start of talks on precautionary financial assistance Hungary is seeking from the IMF and the EU.

National Economy Ministry state secretary Zoltán Cséfalvay said at an event organized by the German-Hungarian Chamber of Industry and Commerce (NMIKK) on Monday that the talks in Frankfurt were expected to produce a solution on disputed points of the law. Afterward, Parliament can vote on any necessary changes, removing an obstacle from reaching an agreement with the IMF and EU, he added.


Sharp Rise in Energy Costs Putting Strain on Competitiveness Analysis

Sharp Rise in Energy Costs Putting Strain on Competitiveness

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Danubius Hotels Appoints Group Director of Development Appointments

Danubius Hotels Appoints Group Director of Development

3 Downtown Districts Planning to Introduce 30 km/h Speed Lim... City

3 Downtown Districts Planning to Introduce 30 km/h Speed Lim...


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.