SNB’s Maechler: Monetary policy must remain expansive amid global uncertainty
|Swiss National Bank (SNB) board member Maechler is reported by Reuters, as saying that monetary policy must remain expansive against the backdrop of global uncertainty.
Additional Quotes:
Brexit, trade tension between US and China could have significant impact on economic developments in Switzerland, worldwide.
Still believes that negative interest rates are temporary, the question is how temporary.
It’s difficult for banks to pass on negative interest rates to retail customers.
USD/CHF caught a fresh bid wave and regained 0.9950 levels amid a broad-based US dollar rebound and softer Swiss inflation figures. Swiss September CPI arrived at -0.1% m/m vs. 0.1% expected and 0.0% last.
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