Swiss National Bank President Jordan spoke at Davos, emphasized the role of central banks

SNB President Jordan spoke overnight, with no remarks on his economic outlook nor on monetary policy.

He did comment on the Swissy the day before (in and interview with Bloomberg TV) when he said that the rise of the CHF has become significant enough in recent weeks to materially affect the inflation outlook:

  • “The Swiss franc became stronger, especially in the last week of last year,”
  • “This already had some impact — the inflation outlook was slower”

On Thursday Jordan instead restated his views on the role of central banks:

  • “I am convinced that it’s very important to maintain a very narrow mandate — we can only justify central bank independence by having a narrow mandate of price stability, supporting the economy”.
  • “We do not really have effective and efficient instruments to tackle climate change.”

He’s right.

He was speaking at Davos where many folks arrive on their private jets , lecture everyone on the need to go back to the stone age, then jet out again.

This article was written by Eamonn Sheridan at Source