SNB’s Jordan: CHF still highly valued despite recent weakening

Headlines cross the wires, via Reuters, as the SNB Chairman Thomas Jordan addresses the post-interest rates decision press conference. 

Key quotes:

  •  Long-term inflationary pressure has not increased.
  •  Expansionary monetary policy remains appropriate to support recovery and price stability.
  • Depreciation of CHF shows safe havens are less sought after, but CHF development still fragile.
  • Too early to talk about normalization.
  • Need to be very prudent (in the normalisation process).
  • Inflation expectations very well anchored.
  • No risk to breach 2% inflation any time soon.

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