Jordan Says SNB Is Ready to Act as Franc Poses Risks
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Swiss central bank President Thomas Jordan said policy makers are ready to take further measures if needed to weaken the franc as its strength poses “major challenges” to the economy.
“We are acutely aware that considerable challenges still remain for the Swiss economy, despite the minimum exchange rate,” Jordan, who was appointed president on April 18, told the Swiss National Bank’s shareholders in Bern today. Speaking after the KOF Swiss Economic Institute reported a third straight gain in its leading indicator in April, he also said that there are “growing signs” the situation has stabilized.