Hungary's Matolcsy tipped as new cbank governor -media

* Economy Minister Matolcsy is ally of PM Orban

* PM's spokesman not immediately avalailable for comment

* Orban expected to announce his candidate in early March

BUDAPEST, Feb 5 (Reuters) - Hungarian Economy Minister Gyorgy Matolcsy could take over at the central bank after outgoing Governor Andras Simor's six-year term expires in March, business daily Vilaggazdasag reported on its website on Tuesday, citing an unnamed source.

Investors are keeping a close eye on the management change at the central bank, which will also involve both of Simor's deputies appointed under a previous government, for clues about policy changes to aid the recession-hit economy.

Prime Minister Viktor Orban's spokesman was not immediately available for comment. A government spokeswoman declined comment on the report, which attributed its information to what it called a "reliable source".

The Vilaggazdasag report said Mihaly Varga, Orban's minister handling contact with the International Monetary Fund, which led a 20 billion euro bailout of Hungary in 2008, could become economy minister in a government reshuffle after Matolcsy's departure.

If confirmed, that step would mirror a similar move under Orban's first government when Varga took over as finance minister from Zsigmond Jarai who became central bank governor.

The forint, which has been on a roller-coaster in the past weeks in part due to market concerns over the changes at the central bank, fell to 295 versus the euro by 2044 GMT from around 292 in afternoon trade.

The Vilaggazdasag report said economy ministry Deputy State Secretary Adam Balog could become deputy central bank governor to Matolcsy.

Orban, who faces an election in just over a year and is under pressure to get the economy growing, has said he would announce his choice for central bank governor in early March.

Orban, who is expected to pick an ally for the post, has called economy minister Matolcsy, the architect of unconventional fiscal policies that included Europe's highest bank levy, his "right hand". (Reporting by Gergely Szakacs; Editing by Angus MacSwan)