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- Swiss National Bank (SNB) Chairman Jordan: We don't manipulate Swiss franc exchange rate
Swiss National Bank (SNB) Chairman Jordan: We don't manipulate Swiss franc exchange rate
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Doesn't see a new minimum exchange rate at the moment
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Negative rates have side effects, SNB trying to minimise those side effects.
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That gives us the freedom to maintain negative rates for longer and also to cut the rate if necessary.
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SNB conducts independent monetary policy, does not follow the ECB.
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Balance of risks is tilted to the downside.
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Needs to take international environment into account.
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SNB could still cut rates if needed.
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We still have a highly valued Swiss franc, important to keep expansive policy.
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SNB can intervene as necessary.
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Never intend to weaken the franc for any advantage.
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