SNB’s Jordan: Change to Swiss policy rate needed because future of Libor not guaranteed

The Swiss National Bank (SNB) Chairman Thomas Jordan is seen addressing the post-monetary policy decision press conference, with the key comments noted below.

Expansionary monetary policy remains necessary.

Change to Swiss policy rate needed because future of libor not guaranteed, adjustment means no change to current monetary policy.

Goal of price stability remains unchanged.

Swiss franc still highly valued, situation on forex markets fragile.

Swiss franc rose when US-China trade tensions increased, franc sought as save haven in periods of uncertainty.

Willingness to intervene, negative interest rates remain necessary.

Global decline in long-term interest rates reflects increased risks.