The National Bank of Hungary said it had awarded the Sándor Lámfalussy Award to Adam Glapiński, Governor of the Polish central bank, at a gala held ahead of the Lámfalussy Conference. In remarks at the event, Governor Mihály Varga said the bank's new management had introduced an operational model focused on the central bank's primary objective, streamlined internal operations and strengthened domestic financial stability. Varga said inflation had been reduced to the central bank's tolerance band over the past year and that the MNB's goal remained to anchor price growth within that range over the long term. He also pointed to record-high foreign exchange and gold reserves managed by the MNB as supporting stability, and said Glapiński's work had made a major contribution to international, especially European, financial cooperation and stability. The conference is scheduled to continue on 18 May with a professional programme.