Previous post Next post

SNB’s Jordan: Franc exchange rate is important in relation to Swiss monetary conditions

Comments by SNB chief, Thomas Jordan, to CNBC

Thomas Jordan

  • Negative rates are a necessity
  • Negative rates have side effects, SNB trying to minimise those side effects
  • Balance of risks is tilted to the downside
  • SNB conducts independent monetary policy, does not follow the ECB
  • But needs to take international environment into account
  • SNB could still cut rates if needed
  • Franc is still highly valued
  • Must maintain negative rates, interventions
  • SNB can intervene as necessary
The headline remark can be interpreted as saying that they are not big fans of the Swiss franc appreciating. The other remarks so far are the usual platitudes offered by Jordan in every other SNB press conference in the past.
But in this case, these are sensitive times for the franc after having had a period of strong performance last week – after the US put Switzerland on the currency manipulation watchlist.
It is up to the SNB now to try and change the market perception that such an event will not translate to prolonged and sustained strength in the currency.
Full story here Are you the author?
About Forexlive
Forexlive
Founded in 2008, ForexLive has been the go to source for both professional and retail traders from around the globe. Our core belief is that all traders want relevant and succinct trading information, and we deliver it 24 hours a day.
Previous post See more for 1.) Forex Live Based CHF SNB Next post
Tags:

Permanent link to this article: https://snbchf.com/2020/01/snb-jordan-franc-exchange-rate-important-relation-swiss-monetary-conditions/

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.