(Bloomberg) -- Hungary’s central bank moved to block attempts to meddle in its interest rate policy and supervision on Wednesday, putting on display the increasingly frayed relations between the rate-setting body and the government.

The forint slid 0.7% to a five-month low against the euro as the disputes deepened just a day after the monetary authority quickened the pace of its interest rate cuts.

The National Bank of Hungary welcomed a European Central Bank opinion, originally published on Monday, in which the ECB called on the Hungarian government to respect central bank independence and to clarify a planned change expanding the scope of the central bank Supervisory Board.

“The independence of the MNB should be fully respected,” the ECB said in the opinion, using the Hungarian acronym for the bank.

In a separate paper, the Hungarian central bank also shot back against a proposal by the government-appointed CEO of a state-owned bank, which repeated the cabinet’s line that high real rates are suffocating the economy. 

“Control remains in the hands of the MNB” in terms of monetary policy, two central bank officials wrote in Wednesday’s response. “The central bank can help most by continuing a disciplined monetary policy to reach durable price stability as soon as possible.”

At its rate-setting meeting on Tuesday, the central bank reduced its benchmark interest rate by a full percentage point to 9%, speeding up the pace of cuts, something that the government has been demanding for months. Viktor Orban’s cabinet has also pushed through changes in regulation that curtailed the central bank’s ability to control interest rates in the wider economy.

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