SNB's Jordan sticks to policies despite franc at 1.20 per euro -paper
 

SNB's Jordan sticks to policies despite franc at 1.20 per euro -paper
ZURICH, April 21 (Reuters) - Swiss National Bank President Thomas Jordan said weakening of the franc to 1.20 per euro this week is no reason to abandon negative interest rates and a willingness to intervene in foreign exchange markets, newspaper Neue Zuercher Zeitung reported in its Saturday edition.

The Swiss franc fell to a three-year low against the euro on Thursday as a revival in risk appetite encouraged investors to use it to buy higher yielding assets elsewhere.

Jordan, interviewed while in Washington, at an International Monetary Fund meeting, said the SNB would stick to its loose monetary policy to help tamp down the strength of the Alpine republic's currency, NZZ reported.

Despite a more robust euro since the election of President Emmanuel Macron in France and Europe's generally favorable economic environment, Jordan said the situation remains fragile and merits that Switzerland stick to its course of the last three years, the newspaper reported. (Reporting by John Miller; Editing by Sandra Maler)

2018-04-21 06:00:00


© 2018 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.
Most read today
Most read yesterday
 
 
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.
© 2018 SHARENET (PTY) Ltd, Cape Town, South Africa