In an interview with the FT:

  • The EUR/CHF floor “seems very credible”
  • Will enforce cap with “utmost determination”
  • Prepared to buy euros in unlimited quantities

“There will be a special session in parliament this spring to discuss the SNB, and there are issues which could affect [our] independence,” Mr Jordan says. “There are proposals to limit the instruments which can be used by the SNB, such as limiting the size of the balance sheet or foreign exchange interventions.”

About a 10-pip jump in EUR/CHF on this, but we’ve heard it all before.