The building of the NBH in Budapest – Photo: wikimedia

Parliamentary committee supports nomination of 2 new central bank policymakers

Parliament's economy committee have given their support for the nomination of Zoltan Kovacs and Eva Buza as external members of the rate-setting Monetary Council of Hungary's central bank (NBH).

Kovacs, who heads the Centre for Business Studies of the Mathias Corvinus Collegium, at the hearing on Monday outlined his decades of experience as an economist working for investment banks and as the deputy chief executive of state-owned Magyar Posta.

Buza, chief executive of guarantor Garantiqa, told lawmakers that higher food, fuel and energy prices were driving inflation in Hungary that was outpacing price rises in other countries in the region.

Lawmakers are scheduled to vote on two new Council members late Monday to replace Bianka Parragh and Gyorgy Kocziszky. Parragh’s six-year mandate expired days earlier, while Kocziszky’s mandate ends soon.

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