SNB Chairman Thomas Jordan reiterated that negative rates and forex interventions are “particularly important at the moment”, since the Swiss Franc is in demand as “safe haven”. He emphasized the need to “ensure monetary conditions remain accommodative in Switzerland.” Also, SNB is “willing to intervene in the currency markets more strongly”.
Meanwhile, he also noted that “it is crucial that lockdown restrictions are reduced whenever possible to allow economic recovery.” But he didn’t expect a rapid recovery and it’s very difficult to forecast at the moment.
