10 January 2005

1        At its meeting on 10 January 2005, the Monetary Council discussed the latest economic and financial developments. In accordance with the Council’s meeting schedule, changing the central bank base rate did not come up at Monday’s meeting.

2        In relation to the amendment of the Central Bank Act which came into force on 29 December 2004, the Monetary Council modified its Rules of Procedure and elected Deputy Governor Henrik Auth its Vice Chairman at this year’s first meeting.

3        The Council approved the abridged minutes of its rate-setting meeting on 20 December 2004. The minutes will be published in both Hungarian and English at 2 p.m. on 14 January 2005.