Central Banks
SNB Must Be Stubborn on Mandate, Flexible on Execution, Jordan Says
- Focus on narrow mandate for price, financial stability
- Swiss central bank president speaks at ceremony in Zurich
The headquarters of the Swiss National Bank (SNB) in Bern.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
The Swiss National Bank must not go beyond its core mandate of ensuring price stability and contributing to financial stability, but be flexible in how it tackles these tasks, according to President Thomas Jordan.
“A narrowly defined mandate combined with substantial latitude regarding implementation is crucial for the success of our institutions, especially in such acute crisis situations,” Jordan said on Saturday, referring to the Covid pandemic and the turmoil on Credit Suisse.