Lawmakers appoint rate-setter

Budapest, September 12 (MTI) – Parliament voted on Monday to appoint Kolos Kardkovács as an external member of the National Bank of Hungary’s (NBH) rate-setting committee, the Monetary Council.

Lawmakers voted with 114 in favour and 53 against for the six-year appointment.

Kardkovács, a lawyer, worked for the Economy Ministry, the NBH and MKB Bank. He replaces Andrea Bártfai-Máger, who resigned from the body in the summer to replace the government’s retiring commissioner for postal affairs and national financial services.

Since her resignation, one internal member of the eight-member council has been absent from policy meetings to abide by rules that require more external members than internal ones. Without a replacement for Bártfai-Máger, there were four external and four internal members. The number of council members are limited to nine by law.

Photo: MTI

Source: MTI