March 14, 2017 / 11:13 AM / 9 months ago

UPDATE 1-Hungary lawmakers propose economist Parragh as new rate-setter

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BUDAPEST, March 14 (Reuters) - Hungarian ruling party lawmakers have proposed economist Bianka Parragh as a new member of the central bank’s rate-setting Monetary Council, the Chairman of Parliament’s Economic Affairs Committee, Erik Banki, said on Tuesday.

The nomination is not expected to change the policies of Central Europe’s most dovish central bank, which has usually made interest rate decisions unanimously in recent years.

Parragh would replace inflation expert Janos Cinkotai, whose six-year term on the policy-making panel expires on March 22. Lawmakers have proposed that Gyorgy Kocziszky, whose term also expires early next month, be reappointed for another six years.

Ruling party lawmakers endorsed both Parragh, who is married to Hungarian Chamber of Commerce and Industry president Laszlo Parragh, and Kocziszky after a 15-minute hearing at which no questions were asked of either candidate.

They could be sworn in next Tuesday, Banki said.

Hungarian interest rates are at record lows and the bank has further loosened monetary conditions since last year by injecting additional forint liquidity into the interbank market.

The Monetary Council will hold its next rate-setting meeting on March 28. (Reporting by Gergely Szakacs; Editing by Catherine Evans)

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