Governor, National Bank of Hungary Andras Simor of Hungary

Got a cleanup job? Simor is your man.

Simor had been considered by experts as the leading candidate to replace Zsigmond Jarai, who has been president of the National Bank of Hungary since 2001, and his election was seen as a sign that the NBH would not come under undue political influence.

losing its independence and the US.

increasing economic growth and a significant decrease of social expenses.

Simor said the looming recession posed a risk to the budget, but he trusted the government would take additional measures if needed to cut the deficit to 2.

The forint’s rise has tightened monetary conditions in Hungary since the last June rate meeting but its impact on rate policy will be clearer only by August, central bank Governor Andras Simor said on Friday.

Monetary conditions have tightened over this period (the past month) as the exchange rate has firmed,” Simor said in an interview with news agencies.

Simor said tight monetary policy did not necessarily equal rate hikes, citing the Czech Republic as an example where rates were relatively low and policy still tight.

Simor said the forint has been bolstered by several factors, including Hungary’s improving fiscal and external balances, and comments by the European Central Bank which cooled expectations for further rate hikes in the euro zone.

Simor said the bank could best dampen volatility in the forint by communicating in a predictable and clear way.

Simor said the figure was “surprisingly favorable” but he declined further comment on the data.

Simor said there was no new information about any significant changes in inflation expectations since June.

EGER,Hungary, Sept 4 (Reuters) - Hungary's central bank and government may not necessarily set a firm date for euro entry when they meet in the first half of 2009 to assess economic convergence, central bank chief Andras Simor said on Thursday.

Hungary's economy has grown stronger over the past few years and although vulnerability remains it has lessened and the country enjoys the support of institutions such as the European Commission, the European Central Bank and the International Monetary Fund (IMF)," central bank governor Andras Simor said on national television.

According to the text of the interview to be published in the magazine on Thursday, Simor said Hungary for the time being will have to rely on a rescue package from the European Union, the International Monetary Fund (IMF) and the World Bank and treasury bills for financing.

which would squeeze banking sector liquidity," Simor said at a parliamentary committee hearing.

Simor said a 10% weakening of the forint would remove some 433 billion forints ($2.

BUDAPEST, Jan 5 (Reuters) - National Bank of Hungary Governor Andras Simor said the central bank wants to cut rates as fast as possible because falling inflation and a recession warrant much lower rates, but rate cuts must not upset financial stability.

BUDAPEST (Dow Jones)--The National Bank of Hungary is committed to further monetary easing at a pace that doesn't put financial stability at risk, central bank Governor Andras Simor said Monday.

We'll move on (with cuts) as soon as (financial) stability risks abate," Simor said at a press conference after the bank lowered interest rates by 50 basis points to 10.

function _hbEvent(a,b){b=_hbE=new Object();b.

National Bank of Hungary Governor Andras Simor denied Sunday he would accept an offer to become Hungarian prime minister and stressed that no such approach from the government has taken place.

Hungary has a near zero chance of defaulting on its debt, central bank President Andras Simor said on state television yesterday.

Hungary needs to maintain tight monetary conditions to bring actual inflation closer to the 3% inflation target, National Bank of Hungary Governor Andras Simor said Monday.

The Monetary Policy Council doesn't want to commit to either direction with regard to interest rate direction at the next policy meeting, but it must be made clear that tight monetary conditions need to be maintained," Simor said at a press conference after the central bank's Monetary Policy Council raised the policy rate by 25 basis points to 8.