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SNB President Jordan Says Enforcing Franc Limit Is Appropriate
The Swiss central bank’s policy of enforcing its currency ceiling is appropriate to prevent deflation, the bank’s president said. “We are enforcing the minimum exchange rate with all determination because it is the right monetary policy,” Swiss National Bank President Thomas Jordan told SonntagsBlick newspaper in the pre-release of an interview to be published tomorrow. The Swiss National Bank has to do that “to prevent a deflationary development.” SNB spokesman Walter Meier confirmed the remarks. The central bank’s foreign-currency reserves jumped about 20 percent in the five months through May as ... (full story)
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