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Swiss govt appoints new SNB board member
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ZURICH (Reuters) -The Swiss government has appointed a new member of the Swiss National Bank’s rate-setting governing board, the central bank and the government announced on Friday.
ZURICH (Reuters) -The Swiss government has appointed a new member of the Swiss National Bank’s rate-setting governing board, the central bank and the government announced on Friday.
Antoine Martin will replace Andrea Maechler, who stepped down from the SNB at the end of June to become deputy general manager at the Bank for International Settlements.
Martin will join Chairman Thomas Jordan and Vice Chairman Martin Schlegel on the governing board, the body which sets the SNB’s monetary policy.
Hailing from the french-speaking part of Switzerland, Martin joins the SNB from the Federal Reserve Bank of New York where he currently works as financial research advisor on financial stability policy research.
“Thanks to his many years of Federal Reserve Bank work, Antoine Martin is familiar with the concerns of a central bank and has sound, practical experience in the field of monetary policy,” the Swiss Federal Council said in a statement.
Thomas Moser will hold the position on an interim basis until Martin’s official start date of Jan. 1, 2024.
(Reporting by Noele Illien, Editing by Rachel More)
The Swiss National Bank (SNB) is the central bank of Switzerland, responsible for setting monetary policy and ensuring financial stability in the country.
Monetary policy refers to the actions taken by a central bank to control the money supply and interest rates to achieve macroeconomic objectives such as controlling inflation and stabilizing the currency.
Financial stability is a condition where the financial system operates effectively, with institutions able to manage risks and absorb shocks without significant disruptions to the economy.
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