“The Chairman of the Central Bank is an exceptionally talented person, she did an excellent job of temporarily strengthening the ruble, perhaps even excessively.
The ruble rose,” Sullivan said.
At the same time, he noted that the impact of anti-Russian sanctions will increase significantly over time.
“If I were a Russian citizen, I would be concerned about their impact on the Russian economy, an impact that I believe will be significant,” Sullivan said.
On May 26, the Central Bank lowered the key rate to 11% from 14% per annum.
Nabiullina urged banks to transfer the remaining foreign currency mortgages into rubles, noting that now is the most opportune moment for this.