Fiscal co-ordination threatens independence, SNB president says

Central banks must not let Covid-19 era policies continue, Thomas Jordan warns

Thomas Jordan
SNB president Thomas Jordan
Louis Rafael Rosenthal

Central banks should avoid co-ordination with fiscal authorities to preserve their independence, says Swiss National Bank president Thomas Jordan.

Higher inflation and government debt are reinforcing each other to create challenges for central banks, Jordan noted during a speech in Washington, DC on October 11.

“To fight inflation effectively, central banks need independence – precisely at a time when such independence is at risk because of high inflation,” said Jordan at the O. John Olcay

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