Swiss Nat Bank supports draft of central bank law

SWITZERLAND - The Swiss National Bank 13 July gave its support to the draft of a new law governing the central bank.

In particular, the SNB welcomed the proposed central bank mandate, a specific definition of independence, a clear legal basis for provisions for monetary reserves and streamlining of the organizational structure.

Parliament is expected to vote on the revised law in summer or autumn 2002.

The bank noted that the orientation of monetary policy to the overriding goal of price stabili

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