- Analytics
- News and Tools
- Market News
- SNB’s Jordan: Taking a risk on a Credit Suisse bankruptcy would have been irresponsible
SNB’s Jordan: Taking a risk on a Credit Suisse bankruptcy would have been irresponsible
Swiss National Bank (SNB) Chairman Thomas Jordan is addressing a press conference after the central bank announced a 50 basis points (bps) rate hike, lifting the key rate to 1.50% in the March quarter.
Key takeaways
“Taking a risk on a Credit Suisse bankruptcy would have been irresponsible.”
“Our liquidity measures are not gifts.”
“Measures taken by the federal government, FINMA and SNB have put a halt to the crisis.”
“We raising rates to counter the renewed increase in inflationary pressure.“
“Further rate rises cannot be ruled out to ensure price stability.”
“Are also willing to be active in forex markets; recent focus has been on selling forex.”
“Swiss inflation is still clearly above the range for price stability.“
“Inflationary pressure has risen since December.”
“In Q4 2022 SNB sold forex worth around 27 billion Francs.”
“We will sell forex in the future and also remain willing to buy to counter excessive appreciation pressure on Franc.”
Market reaction
USD/CHF consolidates losses near 0.9135 on the above comments, shedding 0.45% on the day.
© 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
