SNB’s Jordan: Fiscal and monetary policy will have to remain expansionary
|The Swiss Nation Bank (SNB) Chairman, Thomas Jordan was out with some comments in the last hour and said that we had to intervene heavily last year to relieve pressure on the Swiss franc.
Key Quotes:
- Was important to absorb the pressure so Swiss franc did not rise too much.
- Swiss franc acts as a safe haven, a thermometer of global uncertainty.
- Swiss economy was a bit more resilient than expected last year.
- Estimates that Swiss GDP will decline roughly 3% in 2020.
- The economic outlook remains uncertain, the situation remains fragile.
- Fiscal and monetary policy will have to remain expansionary.
The comments did little to provide any meaningful impetus to the USD/CHF pair, which was last seen trading with modest losses, just above mid-0.8900s.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.