Thomas Jordan on safe-haven flows

About Thomas Jordan

Swiss National Bank Chairman Thomas Jordan announced he would step down in September 2024 after more than a decade in the role, stating that monetary stability had been reached and that he felt it was the right time to leave. In an interview with Bloomberg, Jordan said he was proud that the SNB had "delivered on price stability over a very long run," noting that inflation in Switzerland had been "almost flat" for 10 to 15 years. He described the Swiss franc as a "haven currency" and said its long-term value was "a proof of the stability of the country and of the policy of the Swiss National Bank." Jordan declined to comment on the franc's current strength or on his own succession, saying it was the task of the bank council and federal government to find a qualified replacement. He expressed confidence that the SNB was "in very good hands," citing the experience of his colleagues on the governing board. Jordan also emphasized the importance of central bank independence, stating that people should "realize what is the value of independence, why independence exists, and what can happen if you lose independence." He said he would focus on his duties as chairman for the remaining seven months and would only consider his future after leaving office.

Profile compiled from Thomas Jordan's verified public interviews and appearances. See all quotes & transcripts →