29 November 2004
The Magyar Nemzeti Bank welcomes the statement issued by the President of the Republic of Hungary, clearly supporting central bank independence.
The proposal for the amendment of the Central Bank Act is at variance with not only its own supportive argument, but also European legislation, encroaches on central bank independence and poses a threat to its stability.
The President of the Republic of Hungary also refers to Hungary’s obligation to honour its EU commitments.
The MNB is confident that the Parliament will revoke the proposal, which harms the country’s economic interests and discourages foreign investors.