Hungarian central bank governor: The timing of Hungary's eurozone accession requires weighing the pros and cons.

Hungarian central bank Governor Varga said Hungary must achieve sufficient economic convergence and price stability before adopting the euro. According to the statement, Varga said at the International Monetary Fund annual meeting held in Bangkok that the timing of joining the euro area depends on when the benefits outweigh the costs. He said inflation this year is expected to remain below the central bank's 3% target, and economic growth may rebound significantly. High energy prices combined with global uncertainty require monetary policy to remain prudent and data-based.