The ultimate objective of overall economic policy is to ensure long-term sustainable, stable growth. Monetary policy can best contribute to long-term economic growth and citizens’ welfare by maintaining price stability. Similarly to most modern central banks, the Magyar Nemzeti Bank has as its most important goal to achieve and maintain price stability, which equates to low and stable inflation of around 3%.
The Magyar Nemzeti Bank is an independent and autonomous institution. The Bank ensures the safe operation of the payment and securities settlement systems and the smooth processing of payments, safeguards the financial stability of the banking sector, manages the country’s foreign currency reserves, collects and publishes statistical data, and issues Hungary’s national legal tender, the forint. In relation to its basic tasks under the MNB Act, the Bank seeks to improve the financial literacy of households and young people in particular. In this context, it has for years organised various programmes for households and students designed to increase their awareness of the importance of financial literacy.
Further information is available on the Bank’s website at www.mnb.hu .