Economics
SNB Joins Draghi in Warning of Dread for Politics Next Year
- Central bank keeps deposit rate on hold, pledges interventions
- Officials warn of ‘multitude of political uncertainties’
SNB's Jordan: Too Early for European Policy Normalization
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Just hours after Janet Yellen’s declaration of the U.S. economy’s strength, Swiss officials took a more ominous tone for the rest of the world with a list of things that might be about to go wrong.
Echoing Mario Draghi’s warning last week of risks stemming from 2017’s electoral calendar, Swiss National Bank policy makers led by Thomas Jordan described a “multitude of political uncertainties” awaiting them as they try to keep a lid on the franc, often a haven in times of turmoil. They barely mentioned the Federal Reserve chairman’s move to increase interest rates for only the second time since it cut them to near-zero in 2008.