SNB's Jordan: Developments in recent days show currency market situation remains fragile

In an interview with the Swiss newspaper Tages-Anzeiger, Swiss National Bank Chairman Thomas Jordan argued that the currency markets were fragile and they were forcing the central bank to stay on its current course after political turbulence in Italy sent the Swiss franc soaring, as reported by Reuters. Below are some other key quotes from the article.

Our monetary policy, with negative interest rates and the readiness to intervene in currency markets when necessary, takes this fragility into account.

Jordan also reiterated his opposition to a popular initiative on sovereign money slated for next month that could transform how Swiss lenders operate, saying changes pursued by proponents would be "extremely problematic" and based on "mistaken thinking".