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 ... (full story)