SNB's Jordan: Swiss franc remains highly valued

Remarks by SNB chief, Thomas Jordan

• Negative rates, readiness to intervene in FX markets are essential
• Current monetary policy stance is necessary
• Swiss franc has weakened but remains highly valued

The same old, same old from Jordan. When all is said and done, expect SNB monetary policy to stay as it is with little incentive really for the Swiss central bank to even consider tightening policy in fears that it may spark a fresh wave of franc strength.