Hungary Picks Rate Setters as Central Bank Row Intensifies
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Hungary’s new Monetary Council members pledged independence from political influence, while central bank President Andras Simor said he had to reject a government official’s "bullying" aimed at forcing him out.
"A central bank president won’t be threatened or bullied into resigning," Simor told reporters today in Budapest. He said a "high-level government official," whom he declined to name, told him several weeks ago to "prepare for a tough fight" because he rejected quitting before his terms ends in 2013.