Putin nominates Nabiullina for third term as she announces emergency QE

Bank of Russia governor Elvira Nabiullina
Source: Kremlin

Russia’s central bank will start quantitative easing, it announced today (March 18), as president Vladimr Putin nominated Elvira Nabiullna for a third term as governor.

The central bank’s monetary policy committee today held the policy rate at 20% in its first scheduled meeting since Russia’s invasion of Ukraine. It raised the policy rate to that level at an emergency meeting on February 28 after Western countries imposed severe financial sanctions.

Nabiullina said the central bank forecast

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