Hungarian Prime Minister Viktor Orban has nominated his longtime finance minister Mihály Varga to lead the central bank, with investors alert to the potential consequences of one of Europe’s tightest monetary policies.
Orban said in a radio statement today, Friday, that the 59-year-old man, who speaks calmly and wears medical glasses, will assume the presidency of the National Bank of Hungary, starting in March, when the second and final term of the bank’s governor, Gyorgy Matolcsi, ends.
Prime Minister Marton Nagy is also expected to give the powerful economy minister the finance portfolio in what will be a joint “senior ministry” for economic policy, although he did not confirm this on air.
