Budapest, 16 September 2026 – “The Magyar Nemzeti Bank wishes to play leading role in fostering the partnerships that help us to fully exploit the possibilities provided by our modern era,” declared MNB Governor Mihály Varga in his opening speech at the Budapest Financial Summit. He emphasised that, even though the global economy was characterised by increasing fragmentation, international cooperation between central banks helped maintain financial stability.
Governor Varga pointed out that technological progress, geopolitical tensions, the energy crisis and sustainability challenges were creating an increasingly unpredictable global environment. Thus, uncertainty was no longer temporary for central banks but a permanent fixture. As he had previously noted, in this environment, central banks’ primary goal continued to be maintaining price stability, in addition to which ensuring financial stability also remained an important task. According to Varga, understanding global challenges required a broad international perspective, which at the same time contributed to being able to recognise opportunities and make the most of them. To cite an example, he noted that, in terms of the latest technological advancements, artificial intelligence entailed both unprecedented opportunities and challenges. The aim was to maximise the benefit provided by the opportunities, while at the same time minimising risks related to the challenges. The Governor underlined that the Magyar Nemzeti Bank wished to play a leading role in supporting these efforts, stressing that while local challenges arising in our economies may differ, the need for stability, resilience and efficiently functioning institutions remained universal. As fragmentation was increasing across various dimensions of the global economy, there was a growing need for platforms where knowledge sharing was encouraged instead of separation, where cooperation was advanced instead of isolation. Governor Varga explained that, bearing these considerations in mind, the MNB had launched the Budapest Financial Summit, an event bringing together diverse experiences and policy approaches.