Russian central bank proposes former chairman Ignatyev as board member
MOSCOW, Sept 17 (Reuters) - Russia's new central bank head Elvira Nabiullina has proposed that her predecessor, Sergei Ignatyev, remain on the bank's board of directors, according to a list of candidates published by the central bank on Tuesday.
Ignatyev's continuing tenure in a formal position at the bank would be seen as a sign of policy continuity. Nabiullina, who took over in June, had previously said that she would ask Ignatyev to remain on as an adviser.
Ignatyev, a veteran who headed the bank for 11 years, is credited with raising the status and effectiveness of the central bank, presiding over a fall in inflation and boosting confidence in the rouble.
New head Nabiullina, a former economic adviser to President Vladimir Putin, had been expected by some analysts to pursue a looser monetary policy to boost flagging economic growth at a time when the central bank has come under fire from some government officials for its tight money policy.
However, she has so far resisted interest rate cuts because of concerns about inflation, continuing the relatively "hawkish" approach associated with Ignatyev.
Other candidates for the board were all senior central bank officials. They included key members of Ignatyev's management team such as First Deputy Chairman Sergei Shvetsov, responsible for financial markets, and First Deputy Chairman Alexei Simanovsky, responsible for bank regulation.
The most high-profile newcomer, former G20 "sherpa" Ksenia Yudayeva, was appointed last week as the bank's head of monetary policy.
The list of candidates still has to be approved by parliament, but this is likely to be a formality.