Swiss central bank opens Singapore office
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Singapore and Switzerland have much in common, including the challenges facing their central banks, the head of the Monetary Authority of Singapore (MAS) said on Saturday.
Calling the two countries “kindred spirits", Ravi Menon welcomed the opening of the first overseas branch office of the Swiss National Bank (SNB) and said it would help strengthen bilateral relations.
"We are doubly pleased that SNB has chosen to come to Singapore, because our two countries are like kindred spirits," said Menon, who is managing director of MAS.
Both "are small trading nations, with a shared interest in promoting free trade and maintaining an open, rules-based global economy", he noted.
He said SNB and MAS are confronting similar challenges as central banks in the post-financial crisis world.
