SNB Can Cut Rates Further If Needed, President Jordan Says
- President says negative rates make sense for Switzerland
- Brexit, European outlook focus of Jordan chat with Draghi
A cyclist passes the Swiss National Bank (SNB), Switzerland's central bank, left, and the Federal Palace, Switzerland's parliament building in Bern, Switzerland, on Tuesday, March 12, 2013.The Swiss central bank pledged to keep up its defense of the franc cap after almost doubling its currency holdings to shield the country from the fallout caused by the euro zoneÕs crisis.
Photographer: Valentin Flauraud/BloombergThe Swiss National Bank can cut interest rates further into negative territory if needed, President Thomas Jordan said.
“We have still some room to go further if necessary,” Jordan said Saturday in an interview in Washington with Bloomberg Television’s Francine Lacqua. Jordan, who is attending the annual meetings of the International Monetary Fund and the World Bank, noted that the bank has already pushed rates quite far.