Thomas Jordan bashing the same drum but with a slightly different tune

  • Will continue with negative rates and intervention pledge
  • Monetary policy goal is to lessen pressure on franc
  • Expects Swiss jobless to rise in 2016
  • SNB would have had to intervene massively to sustain cap

And the usual guff

  • Swiss Franc still markedly overvalued
  • SNB has further possibilities to be expansive