SNB’s Jordan: SNB is ready to intervene in currency market if necessary

Dhwani Mehta FXStreet

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

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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