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Jordan says there is strong appreciation pressure on the Swiss franc in uncertain times

Following the Swiss Nation Bank (SNB) monetary policy announcement, President Jordan has said that there is strong appreciation pressure on the Swiss franc in times of uncertainty while speaking at the post-meeting press conference.

Andrea Maechler, a member of the SNB board, has also commented on the value of the exchange rate, saying that franc is still highly valued.

Additional comments:

“Thus, we have made significant purchases of foreign exchange this year“.

“Expansive monetary policy counteracts upward pressure on the Swiss franc.”

“The second wave of coronavirus has caused a further deterioration in the Swiss economic outlook, At least in the short term”.

“It is likely that economic momentum is weak in the fourth quarter of 2020 and first quarter of 2021“.

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