SNB’s Jordan, who has been chatting more in the NY session at least of late, is no the wires saying:monetary policy is a still expansionarywe have most likely to adjust monetary policy againinflation is very thorny and there is still a risk that inflation will rise furtherinflation rate is above our target now.

SNB’s Jordan is on the wires saying that:He sees weaker growth in 2023 than this year.SNB still has credibility that inflation will moderateInflation has broadenedSees limited 2nd round wage effects in SwitzerlandThere is a great probablility that SNB will need to further tighten monetary policy.

SNB Jordan is on the wires speaks in general terms:

Central bank independence is crucial to fight inflation effectively.

Bank of Canada’s Senior Deputy Gov. Carolyn Rogers: We are not where we were in July, but we are a long way from where we need to be.

Looks at series of models to gauge Swiss francs value; market has to live with some volatility, no comment on currency intervention.

SNB’s Jordan is on the wires after the ECB hike rates by 75 basis points today:

ECB 75 basis point rate hike not fully surprising.

The SNBs Andrea Maechler in a newspaper article has said:The SNB will not hesitate to increase interest rates if inflation remains outside of the target.

Vulnerabilities have increased and Swiss real estate market. Swiss apartments overvalued by 10% to 35%. SNB continues to monitor developments in real estate market. It is not roll of monetary policy to curb risk to financial system. The  USDCHF  is trading back below its 100 hour moving average at 0.93129 and its 200 hour moving average at 0.93304.

SNBs JordanStrong CHF limits swiss inflation
See no sign swiss wage price cycle
Inflation stubbornly above 2% would lead to policy tightening
Difficult to say whether global rates have turned, much still depend on economic development
CHF has remained stable in real termsAsked about real estate prices, Jordan says monetary policy aims primarily at price stabilityThe SNB is not investing in crypto currencies
The USDCHF has moved to new session lows (higher CHF) and in the process has moved below the 100 hour MA at 0.92677. The 38.2% at 0.9246 is the next target on the downside. Stay below the 100 hour MA is now a close risk for the sellers. USDCHF falls below the 100 hour MAADVERTISEMENT – CONTINUE READING BELOW