SNB’s Jordan sees room for more intervention if needed

FILE PHOTO: Swiss National Bank (SNB) Chairman Thomas Jordan attends a information convention in Bern, Switzerland December 13, 2018. REUTERS Denis Balibouse/File Photo

WASHINGTON (Reuters) – Swiss financial coverage is suitable for now, however policymakers nonetheless have the room to decrease rates of interest additional or use the central financial institution’s stability sheet if essential, Swiss National Bank Chairman Thomas Jordan stated on Saturday.

“There is no reason to change monetary policy,” Jordan instructed a information convention on Saturday on the sidelines of the IMF and World Bank spring conferences in Washington.

“We always stress the point that we have still room to lower interest rates further and we have also room to use the balance sheet, if necessary, for interventions in foreign exchange markets. Both instruments are here to use depending on the situation.”

Reporting by Trevor Hunnicutt; Editing by Paul Simao

Our Standards:The Thomson Reuters Trust Principles.

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