Nabiullina Reappears and Cuts Russia’s Key Rate to 14% After 2-Week Absence
Updated
Updated · The New York Times · Jun 19
Nabiullina Reappears and Cuts Russia’s Key Rate to 14% After 2-Week Absence
3 articles · Updated · The New York Times · Jun 19
Summary
Russia’s central bank cut its key rate to 14% from 14.25% on Friday as Governor Elvira Nabiullina returned to public view after more than two weeks away.
Her brief absence had stirred anxiety across Russia’s political and economic elite because Nabiullina is widely seen as a crucial stabilizing figure for an economy strained by war spending and Western sanctions.
Rumors during the gap ranged from illness to a political clash over President Vladimir Putin’s push toward a more entrenched war footing, including claims she had fallen from favor.
At the news conference, Nabiullina said she had a cold and lost her voice, offering little beyond that as she sought to project calm despite signs of an overheated wartime economy.