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SNB’s Jordan Defends Negative Rate Policy as Criticism Mounts

  • Swiss have had subzero interest rates for almost five years
  • SNB notes side effects, but says policy is vital for economy
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There’s "no reason" to change monetray policy, SNB President Thomas Jordan says.Source: Bloomberg
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Swiss National Bank President Thomas Jordan unleashed a staunch defense of negative interest rates, insisting the controversial policy is the only way to keep the franc in check and help the economy.