SNB’s Jordan: SNB is ready to intervene in currency market if necessary
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Swiss National Bank (SNB) Chairman Thomas Jordan is crossing the wires now, via in Swiss newspaper Tages-Anzeiger, singing the same old tune that the Swiss franc is significantly overvalued.
Key Headlines:
SNB is ready to intervene in currency market if necessary
Swiss franc is still significantly overvalued against the euro
From a Swiss perspective we have an interest in a normalization of global monetary policy
Negative interest rates remain a central element in SNB's monetary policy
Our expansionary monetary policy is appropriate in the current environment
Declines to comment on market operations, when asked if SNB was active in FX market after US election
Sees broad support in Switzerland for SNB's monetary policy and its independence
Swiss banking system is solid
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