SNB’s Jordan defends central bank independence

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Thomas Jordan, chairman of the governing board of the Swiss National Bank

Central banking independence “continues to be sensible and necessary” to allow regulators to guarantee price stability and financial security, Thomas Jordan, chairman of the governing board of the Swiss National Bank, said in a speech in Frankfurt on November 9.

Jordan explained that the increasing competencies adopted by central banks in the wake of the global financial crisis have made some participants question the value of independence. The SNB chairman stressed the current status quo “will

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