Economic uncertainties remain extremely high says SNB official Jordan and now is not the time to exit its loose monetary policy. The main indicator for exit is the bank’s inflation forecast.

The SNB’s intervention strategy has helped lower volatility in EUR/CHF and has kept the franc from rising versus the EUR. There is no credit crunch in the eurozone, Jordan says.

EUR/CHF holds just above the 1.5075 level where the SNB and its proxies have been steady buyers in recent months. Friday’s buying paid few long-term dividends, however, disappointing the bulls.