SNB’s Jordan: For the time being the expansionary policy is right and no reason to change it

Dhwani Mehta FXStreet

The Swiss National Bank (SNB) Chairman Thomas Jordan said, “for the time being the expansionary policy of SNB is right and no reason to change it,” at the post-monetary policy meeting press conference on Thursday.

Additional headlines

If major central banks go in direction of normalization, it's a good sign for the global economy and a good sign for SNB.

But we still have a very high Swiss franc and inflation which is very low, so have to keep the expansionary monetary policy.

We look at the necessity to reactivate the anti-cyclical capital buffer very closely, sees no signs of the credit crunch in Switzerland.

Market reaction

USD/CHF was last seen trading at 0.9236 amid unabated US dollar selling across the board. The spot is down 0.23% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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