Prime Minister Viktor Orban nominated Finance Minister Mihaly Varga as Hungary's next central bank governor on Friday, turning to an ally as he seeks to revive the economy before a 2026 election.

Hungarian Prime Minister Viktor Orban nominated his longtime finance minister Mihaly Varga to helm the central bank, with investors on alert for potential implications for one of the tightest monetary policies in Europe.

Australia's central bank is finally getting a major shake-up of its policy-making process that adds extra uncertainty to when it might deliver interest rate relief to hard-pressed borrowers. Long-delayed reforms to the Reserve Bank of Australia (RBA) passed parliament late on Thursday after the ruling Labor government secured support from Greens lawmakers,

Australia’s plans to overhaul the Reserve Bank, including splitting the current board in two, may be back on the agenda after the Labor government and minority left-wing Greens Party began last minute talks to revive the stalled legislation.

Australia’s Senate approved an overhaul of the Reserve Bank, which includes splitting its board in two, in a last-minute deal between Prime Minister Anthony Albanese’s government and the minority Greens Party.