National Bank of Hungary (MNB) governor Mihály Varga underscored the impact cooperation and exchanges of experience between central banks could have on economic stability in the region at the 7th joint conference of the Hungarian and Polish central banks in Warsaw.
In a statement issued by MNB on Friday, Varga acknowledged the results achieved in Central and Eastern Europe to mitigate inflation, but said moderating inflation expectations remained an important task. He added that a "stability-oriented" monetary policy was required for financial market stability.
The central bank governor emphasized that in the current uncertain global economic environment, cooperation between central banks is of paramount importance, alongside cautious and stability-oriented monetary policy. Cooperation between the Hungarian and Polish central banks is based on the historical ties between the two countries, and today, mutual knowledge sharing and professional cooperation can strengthen stability and thus support the economic development of both countries, the MNB statement quoted the governor as saying.
Mihály Varga acknowledged the "important role" played by a stable forint in reducing inflation and anchoring inflation expectations.
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