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Kremlin Analyst Appointed as Central Bank Deputy Chair

The Kremlin's former chief analyst, Ksenia Yudayeva, was tapped to oversee the Central Bank's monetary policy as she became the first deputy chairwoman of the regulator on Wednesday, according to a statement on the bank's website.

Having replaced her long-standing predecessor, Alexei Ulyukayev, who became Economic Development Minister in June, Yudayeva will have to step up efforts to stimulate economic growth and rein in inflation — a key priority for the government — with consumer price growth remaining above the target range of 5 to 6 percent per year.

The Central Bank is widely expected to ease its monetary policy, but analysts said a decision to lower interest rates is unlikely to be made at the regulator's upcoming board meeting on Friday.

Yudayeva will report to Elvira Nabiullina, a former economic aide to President Vladimir Putin, who appointed her the Central Bank's chairwoman earlier this year.

Before joining the regulator Yudayeva, who holds a Ph.D. in economics from the Massachusetts Institute of Technology, chaired the Presidential Expert Directorate, which does research for the head of state.

In this position, she will be replaced by former Deputy Economic Development Minister Vladimir Simonenko, who was appointed Wednesday, according to a statement on the Kremlin website.

Yudayeva also oversaw preparations for the G20 summit that took place in St. Petersburg last week. She might remain Russia's sherpa in the G20 until December, Deputy Finance Minister Sergei Storchak said, PRIME reported.

Her appointment to the Central Bank had been anticipated and confirmed earlier speculations in the media.

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