MOSCOW (Reuters) - Russia's central bank appointed Group of 20 summit coordinator Ksenia Yudayeva on Wednesday to a monetary policy role in a move likely to tilt decision-making towards more rate cuts over the longer term.
The long-expected selection of U.S.-educated Yudayeva as first deputy in charge of monetary policy is likely to cement new central bank head Elvira Nabiullina's authority and underpin efforts to revive economic growth.
Yudayeva, 43, who received her doctoral degree in economics from the Massachusetts Institute of Technology, was picked by President Vladimir Putin last year to coordinate preparations for the G20 summit held last week in St. Petersburg.
"Yudayeva seems to have a less hawkish approach, judging from her comments so far," said Vladimir Kolychev, an economist at Rosbank in Moscow. "Already in spring she spoke in favor of easing monetary policy."
A former chief economist at state-controlled Sberbank, in her recent comments Yudayeva backed Nabiullina's criticism of calls for a weaker rouble to support the flagging economy.
Yudayeva will replace Alexei Ulyukayev, a former central bank "hawk," who moved to head the Economy Ministry this summer.
(Reporting by Maya Dyakina; Editing by Lidia Kelly/Ruth Pitchford)
- Central Banks
- Budget, Tax & Economy
- Elvira Nabiullina