Thomas Jordan: Small country - big challenges, Switzerland's monetary policy response to the coronavirus pandemic

Text of the 2020 IMF Michel Camdessus Central Banking Lecture by Mr Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank, Washington and Zurich, virtual, 14 July 2020.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Dear Madame Managing Director of the International Monetary Fund, Dear Kristalina, Ladies and gentlemen

It gives me great pleasure to speak before you today - although for most of you only virtually, unfortunately, due to the coronavirus pandemic.

Dear Kristalina, I'd like to thank you and the IMF very much for the invitation to give this year's Michel Camdessus Central Banking Lecture. This is a great honour for me and for the Swiss National Bank. I have had the privilege of meeting Michel Camdessus, and hold him in high esteem as an impressive personality and a far-sighted decision-maker. Allow me also to pay tribute to you, dear Kristalina, for your strong leadership of the IMF at this critical juncture. The work of your institution is crucial for overcoming the current global crisis.