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.