the-hungarian-way-borito.jpgThe Magyar Nemzeti Bank published ‘The Hungarian Way – Targeted Central Bank Policy’, the third volume of a series of books dealing with economics and monetary policy, in 2017. The book was edited by Kristóf Lehmann, Head of the Bank’s Monetary Strategy Department, and by Dániel Palotai and Barnabás Virág, two of the Bank’s Executive Directors. The Bank’s statutory duties include to enhance domestic financial literacy, thereby promoting economic thinking, and, without prejudice to its primary objective, to support the government’s economic policy. The decision to launch the special series was made in line with this policy mandate.

Acting in accordance with its statutory duties, in ‘The Hungarian Way – Targeted Central Bank Policy’ the Magyar Nemzeti Bank gives a detailed account of the policy measures taken since 2013 as well as their effects, while providing a comprehensive overview of the changes in central bank practices over the past decade. The importance of the book lies in the presentation of the significant and lasting results of innovative, adequately targeted or, as they are sometimes viewed, unconventional, domestic central bank measures in the economy. Taking into account the idiosyncrasies of the economy and the experiences of the crisis prompting a paradigm change, the targeted instruments have proved efficient in addressing the severe challenges facing the Hungarian economy and the financial system, successfully complementing the traditional policy approach.

The book can be purchased online in the following shop: