SNB's Jordan warns of negative implication on a 'Yes' vote

FXStreet (Bali) - The chairman of the SNB, Thomas Jordan, reiterated over the weekend, the Central Bank's opposition to a 'Gold referendum', intendeed to prevent the selling of gold holdings, ahead of a vote on Nov 30th.

As Reuters reports: "Higher gold holdings would escalate costs for the SNB and impair its ability to intervene freely in the currency market", with the news organization citing SNB Chairman Thomas Jordan as saying that "the initiative is dangerous because it would weaken the SNB."

Jordan added that "the connection between a minimum share and a ban on selling which it embraces would very greatly restrict our monetary policy room for maneuver..."