Saturday , November 9 2024
Home / SNB & CHF / Swiss franc still highly valued, but no policy change

Swiss franc still highly valued, but no policy change

Summary:
Jordan has been chairman of the SNB since 2012. The Swiss franc, investment in arms, and the housing market were some of the issues the government discussed with the chairman of the Swiss National Bank. SNB chairman Thomas Jordan told the government that he sees the Swiss currency as highly valued and warned of the continuing risks of bubbles in the housing market. “Jordan emphasised that monetary policy with negative interest rates and the willingness to intervene [on foreign exchange markets] remains necessary,” according to a government statement published on Wednesday. In June, Finance Minister Ueli Maurer criticised the bank’s balance sheet, saying its expansion is “on the verge of sustainability”. Commentators

Topics:
Swissinfo considers the following as important: , , , ,

This could be interesting, too:

Jane L. Johnson writes Contrived Scarcity and Antitrust Lawsuits—“It’s Not a Bag, It’s a Birkin”

David Gordon writes What Is Consent?

Lance Roberts writes Trump Presidency – Quick Thoughts On Market Impact

Robert P. Murphy writes How Can Mining Asteroids in the Future Make Us Richer Today?

Swiss franc still highly valued, but no policy change

Jordan has been chairman of the SNB since 2012.

The Swiss franc, investment in arms, and the housing market were some of the issues the government discussed with the chairman of the Swiss National Bank.

SNB chairman Thomas Jordan told the government that he sees the Swiss currency as highly valued and warned of the continuing risks of bubbles in the housing market.

“Jordan emphasised that monetary policy with negative interest rates and the willingness to intervene [on foreign exchange markets] remains necessary,” according to a government statement published on Wednesday.

In June, Finance Minister Ueli Maurer criticised the bank’s balance sheet, saying its expansion is “on the verge of sustainability”. Commentators described the reported statement as an interference in the independence of the SNB.

Wednesday’s meeting also saw discussions on the investment policy of the central bank, indirectly referring to criticism about the SNB holding shares in arms companies.

In its appraisal of the overall situation, the government gave the Swiss economy a clean bill of health but warned of external dangers.

“The global economy continues to develop robustly, and the economy is also in good shape in Switzerland. However, the risk of a worsening international situation has increased,” it summed up.

 

Tags: ,,
About Swissinfo
Swissinfo
SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.

Leave a Reply

Your email address will not be published. Required fields are marked *