Swiss National Bank Chairman Thomas Jordan, in an interview with Swiss NZZ am Sontag on the weekend
- "We have always stressed that we will be active in the currency market if necessary. In the second half of June, when the Greek (bailout) negotiations were at a critical stage, we intervened, for example, stabilising the foreign exchange market."
More:
- Swiss interest rates will stay negative "for some time"
- Said the CHF was "clearly overvalued"
- Defusing the Greek debt crisis eased some upward pressure on the franc
On moves towards policy normalization in other coutnries:
- "It is said that the U.S. central bank may under some circumstances start normalising monetary policy, and then possibly England could raise interest rates a bit.
- There are signs that the economy is recovering in the euro area. Then monetary policy could normalise there. That would let us get away from negative rates"
Via Reuters
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NZZ am Sontag is Swiss newspaper Neue Zürcher Zeitung am Sontag (NZZ on Sunday)
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Jordan has been a bit chatty lately:
And, on Friday we got growth reported in the Swiss economy for Q2: