SZ SNB Chairman Jordan Speaks
As head of the central bank, which controls short term interest rates, he has the most influence over monetary policy. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future policy;
SNB Chairman from Apr 2012 - Sep 2024. Volatility is sometimes experienced during his speeches as traders attempt to decipher interest rate clues;
- History
Expected Impact / Date | Description |
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Sep 12, 2024 | Due to speak at Bankers' Day 2024 organized by the Swiss Bankers Association, in Geneva. Audience questions expected; |
Aug 29, 2024 | Due to speak in Basel; |
Aug 20, 2024 | Due to speak in Schwyz; |
May 29, 2024 | Due to deliver opening remarks at the Bank of Korea International Conference, in Seoul; |
May 28, 2024 | Due to participate in a panel discussion titled "Policy Panel Discussion" at the Bank of Japan - Institute for Monetary and Economic Studies, in Tokyo; |
May 24, 2024 | Due to speak about communication, monetary policy, and public impact at the Swiss Media Forum, in Lucerne; |
May 13, 2024 | Due to participate in a panel discussion at the Swiss Institute of International Studies, in Zurich; |
May 6, 2024 | Due to speak about SNB's Project Helvetia III at the BIS Innovation Summit, in Basel; |
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- SZ SNB Chairman Jordan Speaks News
post: SNB'S CHAIRMAN JORDAN: THE WEAK EURO AREA IS HURTING DEMAND FOR SWISS EXPORTS.
post: SWISS NATIONAL BANK'S JORDAN: REASONS TO BELIEVE THE NATURAL RATE OF INTEREST HAS INCREASED OR MIGHT RISEJordan: The natural rate of interest (r*) as a reference point for monetary policy - a practitioner's view Ladies and gentlemen I am delighted to be here today in Seoul to address such a distinguished audience. I would like to thank Governor Rhee for inviting me to give this keynote speech. The topic of this year’s Bank of Korea International Conference – ‘The Evolution of the Natural Interest Rate and Its Implications for the Global Economy’ – could not have come at a better time. Monetary tightening over the past two years has lifted policy rates and longerterm interest rates from their historical lows. There are reasons to believe that some of the structural drivers of real interest rates have also changed direction in recent years. A lively debate has emerged on whether real interest rates will return to their pre-pandemic levels, or whether they will remain higher because the natural rate of interest, r*, has increased.1 Over the past years, r* has become an important reference point for monetary policy. The difference between the real interest rate and r* gives a measure of a central bank’s monetary policy stance. Therefore, r* estimates help in evaluating different monetary policy options. However, the measurement of r* is subject to high uncertainty. Today I would like to focus mainly on how policymakers can nevertheless make use of r* estimates in practice. In the first part of my remarks, I will briefly review the developments in real interest rates over the past decades. I will then turn to the concept of r* itself. In the second part, I will discuss how policymakers can use r* in practice to assess the monetary policy stance, and in particular, how they can deal with the inherent uncertainty in r* estimates. Here I will draw especially on the Swiss National Bank’s experience.
post: SNB'S CHAIRMAN JORDAN: THE OUTLOOK FOR SWISS INFLATION IS NOW MUCH BETTER.
I am delighted to see you here today at the SNB’s General Meeting of Shareholders. A warm welcome to you all. This is already my thirteenth General Meeting as Chairman of the Governing Board, and also my last. It is therefore a particular honour and pleasure for me to be able to speak to you again here one more time. ‘The spectre of inflation is back’ – this was the sort of headline that was commonplace in the media from mid-2021 onwards, both in Switzerland and abroad. After years when it had been exceptionally low, inflation ...
Ladies and Gentlemen It is my great pleasure to welcome you to our conference. The aim of today’s discussion is to map out the journey towards the future monetary system. Thank you all for taking the time to join us in this endeavour. The financial system is undergoing rapid technological change. Central banks around the world are investigating how to harness the potential of new technologies while maintaining monetary and financial stability. We recently launched Helvetia III, a pilot project featuring the issuance of Swiss franc ...
Central banks lack the tools to fight climate change and should stick to their core tasks, Swiss National Bank President Thomas Jordan said. “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,” he told a panel in Davos on on Thursday. “We do not really have effective and efficient instruments to tackle climate change.” Central banks around the world are considering ways to help save the planet ...
It is a great honour and pleasure for me to speak to you on this year’s ETH Day. Many citizens may not know that the Swiss Federal Institute of Technology (ETH) and the Swiss National Bank (SNB) have a related ‘origin story’. The years after 1848 saw the founding of one important federal institution after another in the fledgling Swiss Confederation. And the question of where those institutions should be sited triggered a cantonal tug-of-war. The wrangling over the ETH and the SNB took a particularly long time to resolve. Indeed, in ...
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