SNB head Thomas Jordan from the presser
- SNB will not rule out a further rate cut though
- Switzerland has negative inflation not deflation
- it's more an adjustment of prices at the moment
- doesn't see global loss in confidence in mon pol
- unconventional policies have side effects
- constantly monitoring financial markets, sees risks but also positive signs
- Swiss economy has to adjust to strong CHF, has shown resilience in the past
"I can tell you that we do not rule out another rate cut but it carries risks of unwanted side effects"
Meanwhile USDCHF and EURCHF still underpinned and currently 0.9881/1.0835
Switzerland's own Mr Happy in presser still