Lawmakers Pick Central Bank Policymakers
Zoltán Kovács and Éva Búza, the two new members of the Monetary Council of the Hungarian National Bank (MNB), are sworn in at the plenary session of the Parliament on March 27.
Photo by Attila Kovács / MTI
Legislators voted on the appointments of Éva Búza and Zoltán Kovács as external members of the rate-setting Monetary Council of the National Bank of Hungary (MNB) on Monday, according to a report by state news wire MTI.
MPs elected Kovács and Búza with separate votes, each 126 for, 60 against, and no abstentions.
Kovács and Búza took their oaths after the vote.
The new members will replace Bianka Parragh and György Kocziszky. Parragh's six-year mandate expired days earlier, and Kocziszky's mandate ends in about a week.
Earlier on Monday, Búza and Kovács, as well as a third candidate, Magdolna Csath, addressed parliament's Economy Committee.
Búza, who is the CEO of guarantor Garantiqa, told the MPs that inflation in Hungary is higher than its peers in the region because of food, fuel, and energy prices.
Kovács, who heads the Center for Business Studies of the Mathias Corvinus Collegium, outlined his decades of experience as an economist working for investment banks and as the deputy CEO of state-owned Magyar Posta.
Csath said central bank policymakers need to create a "balance" between monetary and fiscal policy. She added that Hungary has to catch up in the areas of innovation and productivity.
The Monetary Council will hold its monthly policy meeting on Tuesday.
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