Matolcsy to Focus on Growth, Inflation at Hungary Bank

Gyorgy Matolcsy, the architect of Hungarian Prime Minister Viktor Orban’s self-styled unorthodox policies that helped push the economy into recession, vowed to focus on growth and fight inflation as central bank chief.

Matolcsy, who has urged the Magyar Nemzeti Bank to embrace unconventional monetary tools to stimulate the economy, will run the bank through 2019, Orban said on state radio today. Mihaly Varga, 48, who led talks with the International Monetary Fund, will replace him at the helm of the Economy Ministry.