SNB head Jordan with a scheduled speech 20 June
- current policy is necessary
No prizes for guessing the rest of it.
- difficult ccy situation means it doesn't make sense to reduce interest rate differential with other economies at this stage
- negative rates and intervention help keep CHF on track
Others might argue with that Thomas. Keep on track or manipulate?
- CHF still considerably over-valued
- neg side effects of Swiss mon pol limited
No rush for the exit doors then from the SNB
USDCHF suitably unfazed by the jaw-boning at 0.9742. EURCHF ditto at 1.0870
Earlier SECO raised GDP forecasts and softened 2018 inflation outlook
Jordan - Public CB enemy No. 1 ?
