Lawmakers Pick Central Bank Policymakers

MNB

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.

Farmgate Prices Fall 25.4% in February Crops

Farmgate Prices Fall 25.4% in February

Hungary in Talks on Attracting More Chinese Investments - Sz... Int’l Relations

Hungary in Talks on Attracting More Chinese Investments - Sz...

Close to 2,500 Companies Apply for EV Subsidies Automotive

Close to 2,500 Companies Apply for EV Subsidies

Chresten Bruun Wins Expat CEO of the Year Award Awards

Chresten Bruun Wins Expat CEO of the Year Award

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.