Jordan: Switzerland is not a currency manipulator
SNBs Jordan is on the newswires addressing a number of issues:
- Switzerland is not a currency manipulator
- SNB will reduce balance sheet 1 inflation risks appear
- coronavirus plays role in Franc rise
- maintains intervention pledge, negative rate
- Swiss franc is highly valued
- Don't intend to weaken Frank for advantage
- negative rates will be around for some time
- benefits outweigh side effects of negative rate
- has room for further interest rate cut
The Trump administration put Switzerland on the currency watchlist as a currency manipulator. The Swiss National Bank denies that and argues that the CHF is a safe haven currency in times of crisis (and there has been a lot of that).