Swiss National Bank President Thomas Jordan spoke in an interview published by Le Temps newspaper on Friday.
It was Adam who made the headlines.
In case you missed it, Jordan had specific comments regarding the Swiss franc:
- The Swiss franc can be significantly affected by political uncertainty both within Europe and globally.
- “This is something we have to take into account” and “as we have already demonstrated, we are also ready to intervene in the foreign exchange market if necessary. Only if necessary.”
Yes, they will not interfere if it is not necessary!
Jordan also spoke about his expectations for inflation, following last week’s data from Switzerland:
- Switzerland – CPI in June: +1.3% vs. +1.4% y/y expected
- “All our models suggest that inflation will converge in the medium term at around 1% at constant exchange rates. The strength of the franc also reduces the risk of inflation. It is important that we continue to monitor the situation, but for now the situation is relatively comfortable.”
Jordan is scheduled to end his tenure at the bank in September.