Russia rates decision shows Nabiullina ‘in a good position’
Analyst says governor’s warning of fiscal policy’s inflationary risks illustrates Putin’s reliance on her
Vladimir Putin’s reliance on the Bank of Russia governor Elvira Nabiullina has enabled her to sound warnings about the inflationary risks posed by his government’s fiscal policy, a leading Russia analyst tells Central Banking.
Ahead of its most recent rates decision on June 19, most observers had been expecting the bank to ease policy by 50 basis points, particularly after Putin had said the previous week that rates needed to be lower. In the end, however, the bank only cut by 25bp and, in her
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