SNB head Thomas Jordan still speaking 14 Dec 2017
- Need to be very prudent (in the normalisation process)
- Inflation expectations very well anchored
- No risk to breach 2% inflation any time soon
- SNB never gave specific exchange rate that we regard as fairly valued
- Still has room to increase balance sheet if needed
- Have to maintain expansionary policy
- Development in currency market is pleasing
Right. I think they should ask him the question again when EUR/CHF hits 1.2000. Don't you? ;)
Anyway, still nothing new from Jordan. Same old recycled speech, nothing we already don't know from the SNB statement earlier in the day as well as before that.
