The Swiss National Bank (SNB) Chairman Thomas Jordan said, “for the time being the expansionary policy of SNB is right and no reason to change it,” at the post-monetary policy meeting press conference on Thursday.
Additional headlines
If major central banks go in direction of normalization, it's a good sign for the global economy and a good sign for SNB.
But we still have a very high Swiss franc and inflation which is very low, so have to keep the expansionary monetary policy.
We look at the necessity to reactivate the anti-cyclical capital buffer very closely, sees no signs of the credit crunch in Switzerland.
Market reaction
USD/CHF was last seen trading at 0.9236 amid unabated US dollar selling across the board. The spot is down 0.23% on the day.
