(Bloomberg) -- Departing Swiss National Bank President Thomas Jordan touted the central bank’s success on inflation as his proudest achievement of his 12-year tenure.

“We delivered on price stability over a very long run,” he told Bloomberg Television just hours after the surprise announcement that he’ll be exiting the central bank at the end of September. “The SNB took all the necessary decisions to maintain price stability or the bring inflation back into the range of price stability.”

Switzerland navigated the recent inflation surge avoiding the worst of consumer-price increases seen elsewhere. Inflation peaked at just 3.5% in August 2022 and has been within the SNB’s target range — 0% to 2% — since last June. Data due Monday are set to show a reading of 1.1%, according to economists surveyed by Bloomberg. 

Looking at the EU harmonized gauge, the contrast with the surrounding euro area becomes even more stark: Inflation there peaked at 10.6% in 2022, while by that measure Switzerland was at just 3.4%. 

Those muted inflation numbers allowed the SNB to hike borrowing costs by only 250 basis points — much less than global peers.

The SNB’s independence has been a “key element for the success of monetary policy of the last decades,” Jordan said, adding that “politicians but also the population should be aware of these facts.”

While he said that there’s no immediate threat to his institution’s independence, Jordan stressed that it’s “very important that we have a sufficient qualified discussion about this, that people realize what is the value of independence, why independence exists and what can happen if you lose independence.”

Jordan declined to comment on who should succeed him, but said that he’s “convinced that the bank council and the federal council will elect a very qualified person.” 

In the meantime, the central bank is “in very good hands,” he said. 

With Vice President Martin Schlegel being in office for less than two years and third rate-setter Antoine Martin only having started in January, some commentators have shed doubt on whether the institution can stomach Jordan’s departure.

“Both my colleagues are long-time central bankers, one in the Federal Reserve system, the other in the SNB,” Jordan said. “You have also deputies, alternate members of the governing board – they are all extremely qualified, long-term central bankers with all the knowledge and all the necessary skills to deliver.”

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