Wednesday, September 16, 2015
Elvira Nabiullina Named Euromoney Central Bank Governor of the Year
The magazine said, Faced with crippling sanctions and the oil-price correction, economists credit the governor, and the central-bank team, for dramatic moves last year to stabilize the currency through interest-rate hikes, and efforts to boost local-currency and hard-currency liquidity for financial institutions.
"In the teeth of domestic opposition, the Central Bank of Russia (CBR) accelerated its proposed move to a floating exchange-rate and imposed the regime in November 2014, to engineer a more rapid adjustment in the external balance and to stem the bleeding of FX reserves. "It then raised the policy rate to 17% – including a dramatic 650 basis points hike in December – to stave off a collapse in the financial system."
She can't in anyway be considered Joe Salerno's league, but as far as central bankers are concerned she is not bad.
I recognized her abilities in 2014 and in that year, I named her Central Banker of the Year.
at 7:20:00 PM