SNB’s Jordan comments on the SNB’s Monetary and Investment Policy

The Swiss National Bank (SNB) Chairman Thomas Jordan is on the wires now, via Reuters, making his scheduled speech on monetary and investment policy at SNB's General Meeting of Shareholders, in Bern.

Key Headlines:

Maintain its expansionary monetary policy.

The Swiss franc is still significantly overvalued.

The negative interest rate and the SNB’s willingness to intervene in the foreign exchange market are necessary and appropriate to ease pressure on the Swiss franc

The SNB’s investment policy has to help it fulfil its monetary policy mandate and give it the necessary room for manoeuvre.

A growing balance sheet inevitably leads to greater fluctuations in annual results: both absolute potential profit and absolute potential loss become higher. 

Complete Text of the speech