SNB's Jordan: No further rate cut needed at the moment

In an interview with Blick on Wednesday, the Swiss National Bank (SNB) Chairman Jordan made some comments on the central bank’s monetary policy and inflation outlook.

Key Quotes:

No further rate cut needed at the moment.

But if there is a need to act, the SNB will deepen further negative rates.

If the SNB tightens policy, it would lead to a strong appreciation of the franc.

Inflation will turn negative and economic growth will slow down significantly as such.