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).