Comments from Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank crossing the wires (vis Reuters)
- Says risks to central bank forecast for Swiss inflation are to the downside
- Risk of deflation or negative inflation is really on the radar screen given recent deterioration in Europe
- Says minimum exchange rate is SNB’s main policy tool but won’t not hesitate to use other instruments, including negative rates, if needed
- Will defend minimum exchange rate with unlimited intervention if necessary; have not had to intervene since September 2012
Jordan commenting in an interview in Washington D.C.
ADDED – More here, but I’m sure there will be more to come later so I’ll update further then.