SNB's Jordan says they are not a slave to ECB action

Author: Mike Paterson | Category: Central Banks

SNB chairman Jordan with his presser 15 Dec

I beg to differ Thomas.

  • euro is weak against other ccys, not just franc
  • overvaluation of franc could continue over some time
  • US Fed hike shows US economy on track, a good thing
  • Fed could hike further
  • no limits onexpanding SNB balance sheet
  • Swiss inflation rate still very low
  • SNB willing to intervene to expand balance sheet as long as benefits outweigh costs
  • balance sheet  is an instrument to be used in connection with fx intervention
  • neg rates not an easy situation for fin sector

Nothing new here that I can see at first glance

USDCHF 1.0242 EURCHF 1.0752 both holding their own still.

            Jordan - with his serious face on again

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