Thursday, March 23, 2017

Putin Nominates Bank of Russia Head Elvira for New Term

Elvira with Putin.
Russian President Vladimir Putin told Bank of Russia Governor Elvira Nabiullina, my favorite central banker, that he plans to nominate her for a new 5-year term.

“The central bank under your leadership has done a great deal for the stabilization of the economy as a whole, for the stability of the banking sector and the entire financial sphere,” Putin told Nabiullina at a meeting in the Kremlin Wednesday.

The current four-year term of Nabiullina, 53, runs out in June.

Elvira, btw, keeps on tucking away gold for the Russian central bank.



The Central Bank of Russia added 300,000 ounces (9.33 tons) of gold to reserves in February.

Russia’s central bank holdings were at 1654.705 tons of gold at end of February 2017; the sixth most of any nation.

The Russian Central Bank has added nearly 175% more gold to reserves than the People’s Bank of China over the past 12 months.

Overall Russian Reserves rose from $390.585 billion in January to $397.334 billion in February.

-RW 

Sources: Bloomberg, Smaugld

5 comments:

  1. Great brains, great legs! So.. WHY are we supposed to hate the Russians?? At this point, I wanna BE a Russian!

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  2. A central banker who isn't a chosenite? Oy vey!

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    Replies
    1. She is actually of Muslim Tatar heritage: https://en.wikipedia.org/wiki/Elvira_Nabiullina

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    2. This comment has been removed by the author.

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