Central banking is not dull, although being willing to accept that label might be crucial for success, according to comments from departing Swiss National Bank (SNB) Chairman Thomas Jordan on Saturday.

Jordan, who is set to step down at the end of September, defended his 12-year tenure during which he navigated the central bank through numerous crises.

The executive has faced criticism for his inflexibility and his unwavering commitment to the principle of price stability, Reuters news agency reports.

He has also been faulted for not taking more action to assist Credit Suisse before the bank's collapse last year.

“What we do is not boring, that's a cliche,” Jordan told the Bieler Tagblatt in an interview published over the weekend.

“I believe that the people who are responsible for the national bank should concentrate on their job. They must fulfil their mandate and not get themselves noticed with other activities.”

The 61-year-old mentioned to his hometown newspaper that perhaps the secret to his success was being boring.

“It's better to be called boring or stubborn than for people to say I'm pursuing the wrong monetary policy,” Jordan stated, going on to add that he has not yet decided on his next career move but that a political role does not interest him.

Jordan also said that the central bank had made every effort to maintain price stability, defined as inflation between 0-2%. 

This effort has been successful, as Swiss inflation has been within the target range for the past 12 months.

“We prevented deflation several times, and then successfully fought inflation after Covid. Inflation was much lower in Switzerland than elsewhere,” the outgoing central bank chairman said.

“For now, I want to focus on completing my term. I still have much to do and wish to devote myself fully to my duties. After that, I will hand over my responsibilities and then consider my next steps,” Jordan concluded.