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Monetary policy not government business, central bank says.

Europe Intelligence Wire

| November 18, 2004 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From Hungarian News Agency (MTI))

Budapest, November 18 (MTI) - The central bank is the side responsible for shaping the country's monetary policy, not the government, the central bank (MNB) spokesman said on Thursday.

Gabor Missura was responding to Prime Minister Ferenc Gyurcsany's statements on Hungarian Radio earlier in the day, in which he argued for a weaker forint and lower interest rates.

The spokesman said the MNB could not ensure the stability of prices through lower interest or exchange rates unless the government takes steps toward a more balanced economy.

Missura added that he thought the prime minister's remarks had also …

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