Hungarian central bank deputy governor resigns, forint slips on announcement

Barnabás Virág has resigned from his position as Deputy Governor of the Hungarian National Bank (MNB), the institution announced on Thursday morning. Virág, who was responsible for analysis, payment systems and central bank programmes, will remain at the bank as an adviser to the governor.

His resignation comes ahead of the end of his mandate, which was set to expire in June 2026, Portfolio reports. For months, analysts had expected a change, especially after former central bank governor György Matolcsy stepped down earlier this year and was replaced by Finance Minister Mihály Varga. At the time of Varga’s appointment, it became clear that he would not extend the mandates of the three deputy governors inherited from the previous leadership.

Banai Péter Benő nominated as successor

The central bank has nominated Péter Benő Banai, a seasoned fiscal expert, to fill the deputy governor role, according to Telex. Banai worked in the Finance Ministry and the Ministry for National Economy between 1998 and 2025, most recently serving as state secretary responsible for public finances. Since May, he has been a chief adviser to the MNB president.

According to the bank, Banai’s decades of experience in public finance have contributed to Hungary’s economic stability, making him a suitable candidate for the deputy governor position. He will be heard by Parliament’s Economic Committee on 25 November.

Banai had long been viewed as the frontrunner for the role: during Varga’s own parliamentary hearing earlier this year, he already pointed to Banai as a key figure in his future leadership team.