SNB head Thomas Jordan still speaking 14 Dec 2017

  • Need to be very prudent (in the normalisation process)
  • Inflation expectations very well anchored
  • No risk to breach 2% inflation any time soon
  • SNB never gave specific exchange rate that we regard as fairly valued
  • Still has room to increase balance sheet if needed
  • Have to maintain expansionary policy
  • Development in currency market is pleasing

Right. I think they should ask him the question again when EUR/CHF hits 1.2000. Don't you? ;)

Anyway, still nothing new from Jordan. Same old recycled speech, nothing we already don't know from the SNB statement earlier in the day as well as before that.