SNB's Jordan: no need for policy shift as Franc slides - Bloomberg

Swiss National Bank (SNB) President Thomas Jordan spoke with Bloomberg, stating that he sees no need to begin adjusting the SNB's policies, even though the CHF is sliding into new lows.

Key quotes

"The Swiss National Bank is “not in a hurry” to adjust policy despite the franc touching a milestone low as the situation remains delicate."

"He said that although the franc’s drop goes in the “right direction” the currency is still considered a haven and the situation “fragile” and prone to change from one day to another. “So we remain very prudent.”"

"“We are convinced that the current monetary policy is still necessary,” he said. With inflation still low, the central bank will continue with its policy “as it is today.”