Thomas Jordan on central bank mandate
From SNB’s Jordan: Bank in ‘Very Good Hands’ as He Steps Down · · BloombergTelevision
“The mandate remains the same: maintaining price stability, supporting the economy, giving price stability, contributing to financial stability. So this is the main mandate; we should concentrate on the mandate.”
On , Thomas Jordan, Chairman at Swiss National Bank, spoke about central bank mandate during SNB’s Jordan: Bank in ‘Very Good Hands’ as He Steps Down on BloombergTelevision.
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.
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