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Orban appoints Varga as new head of Hungary's central bank
Hungarian Prime Minister Viktor Orban has nominated his finance minister, Mihaly Varga, to lead the National Bank of Hungary starting in March, following the end of Governor Gyorgy Matolcsy’s term. Orban is also expected to consolidate economic policy under a "superministry" by appointing Marton Nagy as finance minister, although this has not been officially confirmed.
Hungary maintains key interest rate amid forint recovery against euro
Hungary's central bank maintained its key interest rate at 6.5% following a recent decline in the forint, which limited the potential for further monetary easing. The forint strengthened against the euro after the decision, aligning with forecasts from economists. A statement and briefing will be held at 3 p.m. in Budapest to elaborate on the decision.
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