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PM nominates Ferenc Gerhardt as MNB deputy governor

Prime Minister Viktor Orbán has nominated Ferenc Gerhardt to replace outgoing National Bank of Hungary deputy-governor Júlia Király, Prime Minister's spokesman Bertalan Havasi told MTI on Thursday. Gerhardt was appointed a member of the central bank's rate-setting Monetary Policy Council for six years in March of 2011. 
    Király announced her resignation on Monday, calling the step a “signal of the severity of the situation” at the central bank after changes made by its recently appointed governor György Matolcsy. 
    If Gerhardt is appointed, the number of Monetary Council members will fall from nine at the body's last rate-setting meeting on March 26 to seven at the next meeting on April 23. In addition to Király's departure, the mandate of another member, deputy-governor Ferenc Karvalits, expired late in March.
    Gerhardt has held executive positions at CIB Bank, ING Bank, the Hungarian development bank MFB andKonzumbank. He has advised the management of MKB Bank and Allianz Hungária. He worked for the MNB in 2005-2007.