Interview: Jean-Pierre Roth

A new era in the history of Switzerland's central bank began when the Federal Parliament passed the new National Bank Act on 3 October 2003, which entered into force on 1 May 2004, effectively replacing the previous act of 1953. The new act formalised the Swiss National Bank's independence and constitutional mandate, defined its accountability and obligations to the Federal Council, and enhanced flexibility with regard to the central bank's scope of business. This additional flexibility has

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