Hungary's central bank gets new Deputy Governor

April 17, 2019, 1:39 pm  english version Hungarian version  
János Áder, President of the Republic of Hungary, has on Wednesday appointed Mihály Patai Deputy Governor of the National Bank of Hungary (MNB).

Patai’s appointment was recommended by Prime Minister Viktor Orbán in March, and his nomination was endorsed by Parliament’s economic committee on 27 March with 10 in favour, 1 against and 1 abstention.

During his committee hearing Patai said the 0.9% base rate would remain sustainable in the coming period, and so will be Hungary’s economic growth in the next two to three years, although growth will decelerate both in the European Union and in the world economy.

Mihály Patai is currently the President of the Hungarian Banking Association, a post he gave up when he was nominated to become Deputy Governor of the MNB, and previously he was Chairman-CEO of UniCredit Bank Hungary for 13 years.

The six-year mandate of Deputy Governor Ferenc Gerhardt will expire on 21 April. Patai will join Deputy Governors Márton Nagy and László Windisch.

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