Swiss National Bank Chairman Thomas Jordan:

  • Negative rates remain a cornerstone of our policy
  • Expansionary monetary policy still justified
  • Negative rates have helped to reduce capital inflows
  • Willingness to intervene in FX is very important

When G20 leaders meeting and pledge not to intervene, they conveniently exclude Switzerland.

Overall, there's no change in rhetoric here. We'd like to know if they've intervened recently but he didn't comment on that.