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ZURICH: Swiss National Bank Chairman Emphasizes Focus on Price Stability

In remarks aired on Saturday, Swiss National Bank Chairman Thomas Jordan emphasized that monetary policy should remain focused on maintaining price stability. He expressed concerns about the current economic growth and productivity levels, stating that they are too low in many countries and that excessive debt and deficits are becoming widespread.

According to Jordan, one of the critical challenges facing many countries is insufficient growth, and he also highlighted the urgent need for structural reforms to enhance productivity and stimulate growth. He noted that high levels of debt and deficits in several countries are unsustainable and will need to be addressed in the future.

During the International Monetary Fund and World Bank spring meetings in Washington, Jordan warned that relying on monetary policy to finance debt could lead to negative consequences. He stressed the importance of maintaining monetary policy geared towards price stability to avoid potential risks.

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(Reporting by Noele Illien; Writing by Francois Murphy)

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