Jordan Says Cap Shifting, Negative Rates in SNB’s Toolkit
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Swiss National Bank President Thomas Jordan said a shift of the cap on the franc and negative interest rates are among steps the central bank could take, prompting the franc to break through 1.26 per euro for the first time in two years.
“The adjustment of the minimum exchange rate is something that principally belongs to the options if needed,” Jordan told reporters in Frankfurt yesterday. “We will maintain the minimum exchange rate for as long as necessary.”