SNB Chairman Thomas Jordan warned in the post meeting press conference that “surveys indicate that trade tensions have prompted companies to reassess their investment plans and value chains.” Also, Brexit “uncertainty remains high following the postponement of the vote in the UK parliament.” He also pointed to the “tension surrounding Italy’s fiscal policy also persists”.
Jordan said “all these risks could lead to turbulence in the financial markets, jeopardize global economic growth, and also influence monetary policy.” He added that Swiss Franc remains highly valued. At the same time, FX situation is still fragile.
