Russia’s central bank governor Elvira Nabiullina is expected to cut its key interest rate by half a percentage point to 14 per cent on Friday as she returns to public view after a lengthy absence that has highlighted splits over how to manage the strains in Vladimir Putin’s wartime economy.
Since early June, Nabiullina, 62, has missed a series of high-profile events, including Russia’s flagship economic conference in St Petersburg, as well as a cabinet meeting with Putin and other senior economic officials.
The central bank has said Nabiullina is on sick leave. Three people familiar with the matter told the FT that Nabiullina has been suffering from a severe respiratory infection. Nevertheless, her absence has fuelled rumours that she is falling out of President Putin’s favour.