SNB's Jordan sees no reason to change rates, but has room to cut or intervene
Comments from the SNB leader
Swiss National Bank Chairman Thomas Jordan said he has more room to cut if needed.
"We always stress the point that we have still room to lower interest rates further and we have also room to use the balance sheet, if necessary, for interventions in foreign exchange markets. Both instruments are here to use depending on the situation," he said at the IMF meetings.
It's clear this was more of a contingency rather than a threat. His comments on the current stance were unequivocal.
"There is no reason to change monetary policy," he said.
Still, his nod to more extreme policy reveals the challenges central bankers are currently pondering.