Objectives of Magyar Nemzeti Bank
The Magyar Nemzeti Bank is the central bank of Hungary. The MNB is a member of the European System of Central Banks.
The MNB and the members of its decision-making bodies shall be independent in carrying out the tasks and meeting their obligations conferred upon them by the MNB Act, and shall neither seek nor take instructions from the Government, the institutions and bodies of the European Union, the governments of its Member States and any other bodies, except from the European Central Bank.
The primary objective of Magyar Nemzeti Bank (the central bank of Hungary) is to achieve and maintain price stability. Without prejudice to its primary objective, the Magyar Nemzeti Bank supports the economic policy of the Government, using the monetary policy instruments at its disposal.
Further tasks of MNB are:
- holding and managing official reserves in foreign currency and gold
- developing and monitoring the payment and settlement systems
- issuing forint banknotes and coins (exclusive right of cash issuance)
- collecting and publishing statistical information
- setting and publishing official exchange rates
- promoting the stability of the financial system.
For further information please check the Unofficial translation of Act CCVIII of 2011 on the Magyar Nemzeti Bank on our Legal Framework page.