" The primary objective of the MNB shall be to achieve and maintain price stability. Without prejudice to its primary objective, the MNB shall support the economic policy of the Government using the monetary policy instruments at its disposal. "
 
 
Monetary Policy
 
 

Monetary Policy

What is price stability?
 

The most important objective of economic policy as a whole is to ensure stable economic growth that is sustainable over a long term. To this end, the central bank keeps inflation at a low level through pursuing a predictable and credible monetary policy. This is what also underlies the Central Bank Act, which stipulates that ‘the primary objective of the MNB shall be to achieve and maintain price stability’, in line with EU regulations and international practice gaining ground to a growing extent.
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    Monetary policy instruments
     

    The instruments used by the central bank to implement monetary policy are generally called monetary policy instruments. The main aim of the MNB in forming and operating its monetary policy instruments is that the short term money market rates adjust to its key policy rate and the operational framework promote the efficient implementation of interest rate policy.
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      Report on Inflation
       

      The aim of the Quarterly Report on Inflation is to promote public understanding of the Magyar Nemzeti Bank’s monetary policy by presenting past and expected developments in inflation and providing detailed assessments of the key macroeconomic factors driving inflation.
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