FILE PHOTO – Swiss National Bank (SNB) Chairman Thomas Jordan delivers a lecture during the Wirtschafts Symposium Aarau symposium in Aarau, Switzerland January 16, 2019. REUTERS/Arnd Wiegmann
January 24, 2019
ZURICH (Reuters) – The Swiss National Bank can deal with more market volatility in the financial markets with its current array of measures, Chairman Thomas Jordan said on Thursday.
The SNB has over the last four years deployed negative interest rates among the lowest in the world and a readiness to intervene in the foreign currency markets to block a rise in the value of the safe-haven Swiss franc.
“We believe these tools are sufficient, also in order to deal with a little bit more volatility in financial markets,” Jordan told Bloomberg TV in an interview at the World Economic Forum annual meeting in Davos.
The central bank was also unlikely to change course, Jordan said, citing political risks like the U.S.-China trade dispute and Brexit as his biggest concerns.
“The current monetary policy is the right one and we will continue with it for some time,” Jordan said.
(Reporting by John Revill; Editing by Michael Shields)