What’s in a brooch? Russia financial institution chief’s equipment supply clues | Banks Information
Bank of Russia Governor Elvira Nabiullina says the brooches she wears contain clues to understanding political decisions.
Bank of Russia Governor Elvira Nabiullina confirmed what the market was thinking this year: the brooches she wore after interest rate meetings are clues to understanding political decisions.
The first signal came in March when she was wearing a brooch shaped like a nevalyashka doll, a traditional Russian toy that reappears when moved as policy makers tried to prop up the economy against the Covid-19 pandemic. In May, she showed a small white house on her jacket when the government asked people to stay home. And in June she voted for a dove – the Russian word also means dove – after lowering the key rate.
Not every pin is that clear with some social media settings.
“I like to see the different interpretations because people have a rich imagination,” said Nabiullina in an interview with RTVi on Monday. “I put something in each symbol, but I won’t explain it.”
This month, Nabiullina wore a pin from a bright red bird known as Snegir in Russian after policymakers kept policy rates stable for the third year in a row when a second wave of Covid-19 delayed signs of recovery. While some social media commentators viewed the brooch as a sign of a cold winter and a long frost, others suggested that it could be a bullish signal playing on the Bullfinch bird’s name.
“The bullfinch is a beautiful winter bird,” said Nabiullina. “It is a bird that can withstand various frosts. It’s sturdy. “
A more cryptic brooch signal from Nabiullina than normal. pic.twitter.com/2DOENuNXIp
– Natasha Doff (@natashadoff) December 18, 2020
Her previous pick back in October when coronavirus cases were rising was a wave.
“I did not expect the interpretation that the central bank feared a democratic victory in the US,” said Nabiullina. “I think about the meaning in each brooch, but the interpretations are much broader.”
Nabiullina said she hadn’t decided whether to continue wearing brooches next year.