Jordan says that the SNB can reduce rates in the future, but not now
- We are not a currency manipulator
- We do not intervene to take advantage of other currencies
- Central banks around the world are in close contact
- But monetary policy alone cannot solve this crisis
- Monetary policy is complementary and can support fiscal measures
This looks like the new mantra being adopted by the SNB although the one on rates have been going on for quite a while now already. The rest just echoes what all other central banks around the world have been preaching over the past few weeks.
