Swiss National Bank Chair Thomas Jordan says the US' designation of Switzerland as a currency manipulator won't influence Swiss monetary policy

  • says foreign exchange interventions are very important, has seen great pressure on Swiss franc
  • Switzerland is anything but a currency manipulator
  • not yet spoken to u.s. treasury secretary Yellen, but talks with US will take place
  • says central bank is not a fan of negative interest rates, but currently sees no alternative

Jordan speaking on Swiss TV

----

The numbers show the SNB spent around 100bn CHF intervening on forex to slow the rising Swiss franc during the first 9 months of last year. The Swissy was an attractive haven during the pandemic. The 'manipulator' label designated by the loser former US admin might well be accurate, but it is of less than zero concern to Jordan and the SNB. If the new admin in the US say the same, the Jordan/SNB response will be exactly the same.

Swiss National Bank Chair Thomas Jordan says the US' designation ofSwitzerland as a currency manipulator won't influence Swiss monetarypolicy