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SNB to Keep Monetary Policy Loose

SNB to Keep Monetary Policy LooseSNB to Keep Monetary Policy Loose

The Swiss National Bank has to keep monetary policy loose and remain ready to intervene in currency markets if needed to keep a lid on the clearly overvalued Swiss franc, Chairman Thomas Jordan told a conference on Tuesday, Reuters reported. The difficult currency situation meant it made no sense to reduce interest rate differentials with other economies at this stage, he said. “The balance of interests that we always make in this regard speaks very clearly at the moment for continuation of our expansive monetary policy,” he said. The central bank this month kept negative rates on hold at its quarterly policy review.

 

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