Orban Hints at Narrowing Field for Hungary Central Bank Governor [BNN Bloomberg (Canada)]
ABRDN PLC UNSP ADR (SLFPY)
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Source: BNN Bloomberg
Orban's comments, during a picnic with followers over the weekend, suggested that Finance Minister Mihaly Varga or Economy Minister Marton Nagy may succeed Governor Gyorgy Matolcsy after his mandate expires from March 1. The choice is being closely scrutinized by investors for the direction of Hungary's economic policy. The combination of the finance and economy portfolios will create the position of a “super-ministry,” Orban said in comments on Facebook on Sunday. “One will be the top minister for the economy, the other will be central bank governor.” The forint fell 0.3% against the euro in early Monday trading, a second day of losses, and was heading for the weakest close since mid-August. While Varga is seen by investors as a more restrained policymaker, he's overseen successive years when the budget deficit overshot. Nagy on the other has favored interventionist policies both in government and in a previous role as a deputy central bank governor. “Varga is seen as a tech
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