Governor proposes Ferenc Karvalits for Deputy Governor

Governor proposes Ferenc Karvalits for Deputy Governor of the MNB

8 March 2007

Governor of the Magyar Nemzeti Bank András Simor has proposed Ferenc Karvalits as the MNB’s Deputy Governor and member of the Monetary Council. The new Deputy Governor will be responsible for Economics and Monetary Policy, and Market Operations and Statistics. The Prime Minister has agreed to support the proposal and will recommend the candidate for appointment to the President of the Republic.

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The primary objective of the MNB shall be to achieve and maintain price stability. (...) Without prejudice to its primary objective, the MNB shall support the maintenance of the stability of the system of financial intermediation, the enhancement of its resilience, its sustainable contribution to economic growth; furthermore, the MNB shall support the government’s economic policy and its policy related to environmental sustainability, using instruments at its disposal.