But the government now plans to overhaul the monetary council, which sets interest rates.

ECONOMIST: Hungarian politics

Rates are expected to rise again in April at the next Monetary Policy Council Meeting and hit as high as 12.5% before the second half of the year before starting to decline again.

FORBES: Brazil Inflation Off the Charts

The nine ordinary members of the Polish central bank's monetary policy council can look back proudly on their work as they step down this month and next, their six-year terms at an end.

ECONOMIST: Poland's central-bank governor has been a huge success

Stanislaw Owsiak, a member of Poland's Monetary Policy Council, said on Wednesday that the central bank may need to cut interest rates in the first quarter of 2009 if the economy slowed to about 4.0% and inflation eased.

FORBES: Poland's Rate Dilemma

The bill would also increase the bank's monetary-policy council, from ten to 16 members, allowing politicians to pack it with doveish appointees.

ECONOMIST: Strains between governments and their central banks

Andrzej Slawinski, a member of the Polish central bank's monetary-policy council, believes there is less of a risk that the new member states will follow in the footsteps of Greece, Ireland, Portugal and Spain.

ECONOMIST: The financial crisis has made the euro look more alluring

This applies particularly to the bank's governing council, which decides monetary policy.

ECONOMIST: The ECB heads for turbulence

When the ECB council makes its regular monetary-policy decision at the start of each month, this affects the rate or terms at which it lends to banks.

ECONOMIST: Inside Germany��s central bank: Europe��s monetary opposition | The

The EPP has a clear majority in the Council and Parliament in the areas of economic and monetary policy and international trade.

BBC: EU votes show strong UK dissent - Votewatch study

"Until local government gets the message, local council taxpayers will continue to be hit by civil monetary penalties for really basic stupid errors".

BBC: Memory stick