Elvira Nabiullina: Review of Russia's economic and financial developments in 2016
By Bank for International Settlements (BIS)
In this 2017 address, Governor Elvira Nabiullina presents a "consistency and resilience" narrative. Following the shocks of 2013-2014, the Bank of Russia successfully reduced inflation from 7% to nearly its 4% target while transitioning to a floating exchange rate. This shift acted as a vital buffer against external sanctions.
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