SNB’s Jordan: No limits on expanding SNB balance sheet

The Swiss National Bank (SNB) Chairman Jordan was on the wires last minutes, addressing the media during the post-SNB decision press conference.

Key Headlines:

Euro is weak against other ccys, not just franc

Overvaluation of franc could continue over some time

US Fed hike shows US economy on track, a good thing

Fed could hike further

No limits on expanding SNB balance sheet

Swiss inflation rate still very low

SNB willing to intervene to expand balance sheet as long as benefits outweigh costs

Balance sheet is an instrument to be used in connection with fx intervention

Negative rates not an easy situation for fin sector

Meanwhile, USD/CHF is seen reverting to yearly highs reached earlier at 1.0257, up +0.45% on the day.