Thomas Jordan on central bank independence
From SNB’s Jordan: Bank in ‘Very Good Hands’ as He Steps Down · · BloombergTelevision
“You should preserve independence of the central bank. These are very important tasks. I'm really convinced that in Switzerland we have a very good situation where the population at large, politics are behind the independence of the Swiss National Bank.”
On , Thomas Jordan, Chairman at Swiss National Bank, spoke about central bank independence 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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