SNB’s Jordan: Strong appreciation pressure on franc during times of uncertainty
|Following the Swiss Nation Bank (SNB) monetary policy announcement, Chairman Jordan said that there is strong appreciation pressure on the franc during times of uncertainty while speaking at the post-policy press conference.
The SNB board member Andrea Maechler also commented on the exchange rate value, citing that it remains highly valued.
Further comments
“We have therefore made considerable FX purchases this year.”
“Expansionary monetary policy counters upward pressure on the Swiss franc.”
“Second coronavirus wave has led to renewed deterioration in Swiss economic outlook, at least in short-term.”
“Economic momentum likely to be weak in Q4 2020, Q1 2021.”
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