Elvira Nabiullina Named European Central Banker of the Year

Evira Nabiullina, the head of Russia’s central bank, has been named the best Central Bank Governor in Europe in 2016 by the international financial magazine, The Banker.

The powerful establishment insider publication praised her for having “helped steer the country through the difficulties,” with Russia “set to return to economic growth in 2017.”

“Having started 2016 with consumer price inflation of 12.9% – highs not seen since 2008 – Ms Nabiullina highlighted the need to lower inflation to improve economic growth in Russia,” the publication writes in an article dedicated to the award.

I spotted her talents much earlier. I named her Central Banker of the Year in 2014.

At the time I wrote:

TUESDAY, DECEMBER 16, 2014

Elvira Nabiullina: Central Banker of the Year

I am handing out a central banker of the year award to Russian central bank chair Elvira Nabiullina.

Despite being under incredible pressure as the Russian ruble collapses on foreign exchange markets, she is staying calm and collected and is not calling for any kind of government interventions that would only make things worse. She seems to get that markets will resolve things themselves.

She remains the closest thing to a free market advocate in central banking that there is. It is good to see The Banker recognize her sound thinking and execution.

Nabiullina served as economic adviser to Russian President Vladimir Putin between 2012 and 2013, when she was appointed to head Russia’s Central Bank. She was Minister of Economic Development and Trade for 5 years from September 2007 to May 2012. Forbes rates Nabiullina 56th among the world’s 100 most powerful women. 

 -RW