MNB and Hungarian Competition Authority refocus cooperation to lower inflation

Budapest, 8 December 2025 – “The cooperation between the MNB and the Hungarian Competition Authority can contribute to lowering inflation and maintaining fair market competition,” according to MNB Governor Mihály Varga, after receiving Csaba Balázs Rigó, President of the Hungarian Competition Authority (GVH). He highlighted that joint research and analyses help ensure transparency, measure market competition, and assist with detecting the effects of distorted competition.

Governor Varga stressed that a competitive environment lowers prices, thereby contributing directly to fulfilling the MNB’s primary mandate. It was thus justified for the MNB and the GVH to strengthen their relationship. He pointed out that competition encourages market actors to improve the products and services provided by companies, which is a condition for economic development. Governor Varga explained that the cooperation between the MNB and the GVH strengthens the two institution’s professional work in areas such as licensing, inspections, market supervision and consumer protection, which are crucial in the remit of both the GVH and the MNB.

Magyar Nemzeti Bank

Vissza a tetejére

The primary objective of the MNB shall be to achieve and maintain price stability. (...) Without prejudice to its primary objective, the MNB shall support the maintenance of the stability of the system of financial intermediation, the enhancement of its resilience, its sustainable contribution to economic growth; furthermore, the MNB shall support the government’s economic policy and its policy related to environmental sustainability, using instruments at its disposal.