Jordan, president of the Swiss National Bank, says monetary policy must remain focused on inflation

Swiss National Bank President Jordan spoke to Switzerland’s national broadcaster, Schweizer Radio und Fernsehen (SRF, “Swiss Radio and Television”), stating that in many countries:

• economic growth is too low
• productivity is too low
• the debt level is too high
• and the deficits are too big

and that this is not sustainable. Jordan did not offer specific solutions, saying only that structural reforms are needed to increase productivity and boost growth. Meanwhile, central banks must take a different approach:

• “It is very important that, at the same time, monetary policy remains oriented towards price stability, rather than needing monetary policy to finance the debt, otherwise it will not end well.”