SNB Jordan emphasized negative rates and readiness to intervene as necessary

SNB Chairman Thomas Jordan reiterated the stance on negative interest rate, and readiness for intervention at the meeting with the seven member Federal Council. the Council said in a statement that “inflation is down, the global low interest environment has grown further entrenched and the situation on foreign exchange markets remains fragile.” “Against this backdrop, Chairman Jordan emphasized that monetary policy with negative interest rates and the readiness to intervene is just as necessary as before.”