SNB’s Jordan: Expansionary policy is the only way to maintain price stability

The Swiss Nation Bank (SNB) Chairman, Thomas Jordan added to his earlier comments and clarified that the US report has no impact on our monetary policy. SNB nor Switzerland is a currency manipulator. We are in constructive dialogue with our friends in the US on currency manipulation matter. Expansionary policy is the only way to maintain price stability, Jordan added further.

Meanwhile, the bearish pressure surrounding the USD/CHF pair remained unabated, with bears pushing it to fresh multi-year lows and might now be eyeing to challenge the 0.8800 mark.