- Analytics
- News and Tools
- Market News
- SNB's Jordan: Swiss franc is no longer highly valued because of recent depreciation
SNB's Jordan: Swiss franc is no longer highly valued because of recent depreciation
Following the Swiss National Bank's (SNB) decision to hike its policy rate by 50 basis points on Thursday, Chairman Thomas Jordan noted that the Swiss franc was no longer highly valued because of the recent depreciation, per Reuters.
Additional takeaways
"Tighter monetary policy aims to prevent the spread of inflation more broadly in Switzerland."
"Without policy rate rise today, forecast inflation would be much higher."
"There are signs inflation is spreading to goods and services not affected by Ukraine and pandemic."
"Price increases are being passed on more quickly and more readily accepted than in the past."
"There was a risk of second-round effects if inflation stays above 2% for a long time."
"Central bank is ready to intervene in markets to check excessive appreciation or weakening of the Swiss franc."
Market reaction
The USD/CHF pair stays under heavy bearish pressure following these comments and was last seen losing 1.3% on the day at 0.9817.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
