SNB Chairman Jordan: Negative Rates, Readiness to Intervene

SNB Chairman Jordan: Negative rates, readiness to intervene in FX market remains necessary and appropriate

• Rates will eventually turn positive again, but can’t say when
• Future rate hike depends on inflation, FX developments.
• The economy will be hurt if rates are hiked now
• For now, negative rates remain significant and relevant
• SNB prevails enthusiastic about intervening in the FX market as and when needed.
• Dropping negative rates now would gradually recover the situation for savers, pension funds, life insurers and banks.