Wednesday, September 16, 2015

Elvira Nabiullina Named Euromoney Central Bank Governor of the Year

Euromoney has named Russian central banker Elvira Nabiullina, 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.


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