SNB's Jordan: Willing to intervene in currency markets more strongly

Eren Sengezer FXStreet

Swiss National Bank (SNB) Chairman Thomas Jordan said on Wednesday that they do not expect a rapid economic recovery and noted that it was very difficult to make forecasts at the moment.

Additional takeaways

"It is crucial that lockdown restrictions are reduced whenever possible to allow economic recovery."

"Using negative interest rate and interventions are particularly important at the moment as franc in demand as safe haven."

"Must ensure monetary conditions remain accommodative in Switzerland."

"Willing to intervene in currency markets more strongly."

"Central banks should deal with liquidity and financing, should abstain from financial transfers."

Market reaction

The USD/CHF pair edged slightly higher and was last seen gaining 0.45% on the day at 0.9698.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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