Swiss National Bank's Jordan sees room for lower rates

SNB’s policy stance was the right one for the current economic environment.

ZURICH: Swiss National Bank President Thomas Jordan reiterated that he sees further room to cut interest rates and warned that the franc would rise quickly if the central bank abandoned its negative rates and stopped interventions in foreign exchange markets, according to an interview with NZZ am Sonntag published on Sunday.

"The franc is still highly valued, ” Jordan told the newspaper. "There isn’t an extreme overvaluation as in the past. This is thanks to our monetary policy: if we abandoned negative rates and interventions in currency markets the valuation of the franc would change rapidly.”