Bank of Russia chair Elvira Nabiullina took part on June 19 in a press conference following the central bank’s meeting on the key interest rate. The event was streamed on the regulator’s website.
It was her first public appearance since early June. During the press conference, the head of the central bank was asked why she had been absent from public view for so long.
“I can only confirm that I really did have a cold. I lost my voice for a while. And the only thing I can say is to thank those who were sincerely concerned about my health,” Nabiullina said.
Since the beginning of June, Nabiullina had missed several high-profile events, including the St. Petersburg International Economic Forum, a conference of the National Association of Stock Market Participants, and a meeting with Vladimir Putin where inflation and the key rate were discussed.
Against that backdrop, media reports and public discussion gave rise to speculation about the possible resignation of the central bank chief. The Bank of Russia’s press service had previously said that Nabiullina was on sick leave.
According to the Financial Times, the regulator’s head suffered a severe respiratory infection. Nabiullina is now serving out her third term as head of the Bank of Russia, which by law must be her last.
Her term expires in June 2027, one year from now.