A BATTLE HAS broken out for control of Hungary’s monetary policy. The prime minister, Ferenc Gyurcsany (pictured), and the finance ministry want to lower interest rates and work towards a weaker currency to boost growth; the central bank, the National Bank of Hungary, wants to maintain a tight monetary policy to control inflation and help reduce a gaping hole in public finances. The battle involves the nomination of candidates to Hungary’s monetary council, which makes key decisions on interest rates, among other things.
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