Thomas Jordan, head of the Swiss National Bank, spoke on Sunday, Reuters with the report:
- “The initiative is dangerous because it would weaken the SNB”
- “The connection between a minimum share and a ban on selling which it embraces would very greatly restrict our monetary policy room for maneuver”
- Said the SNB had no plans to either buy or sell gold.
- He also said the terms of the initiative could hamper the SNB’s efforts to implement its minimum exchange rate at 1.20 francs per euro
Note – support has declined to 38% according to the latest poll (last Wednesday)
