the same the SNB
SNB’s Jordan weekend comments – will cut rates even further ‘if necessary’
Sun 9 Oct 2016 05:46:36 GMT
Author: Eamonn Sheridan
So the GBP gets smashed on Friday and now we are getting comments from Swiss National Bank Governor Jordan
Is it just my tin hat is too tight or is this guy never far away when a currency COLLAPSES in an, ummmmm, disorderly fashion? I'm guessing its my hat in this instance ... still though .... ;-)
Jordan was speaking with Bloomberg TV on SNB policy (reminder, a negative 0.75% rate and threats to intervene in the CHF ... unless he changes his mind of course :-D ). He said the bank will cut further into negative territory if they have too:
"We have still some room to go further if necessary. It makes, definitely, sense for Switzerland"
And on the CHF: "a lot of evidence that the exchange rate channel is working"
Thanks to Bloomberg for the report
And via Reuters, more from Jordan
Says the SWF remains "significantly overvalued"
Ratea aren't changing any time soon
"We are convinced for the time being that our monetary policy is minus 75 basis points"
"We also said that we have the potential to lower rates if necessary, but for the time being this policy is working and the combination of the two pillars is the right one"
ps. Bloomberg's most recent survey of economists/analysts shows there are plenty thinking rates are headed to negative 1.25% in the hilly country
http://www.forexlive.com/Swiss Pension Fund Manager was Refused to Withdraw Money to Save it from Negative Interest Rates
27/04/2015
Switzerland – a land of economic freedom. Solution: Move cash to a vault, or use bitcoin
“After all, as a pension fund manager he has a fiduciary duty to his clients, and if he can save money based on a technicality, he has to do it,” Tenebrarum wrote.
“As the modern day fiat money system inevitably cruises toward its final denouement, individual rights will come increasingly under attack as the world’s ruling elites and centrally directed banking cartels begin to batten down the hatches.”
https://www.cryptocoinsnews.com/swiss-pension-fund-manager-refused-withdraw-money-save-negative-interest-rates/Financial market in
frastructures: Walking the line between stability and
innovation Such new technology is highly relevant for central banks, especially in the context of the
ongoing debate about central bank money potentially being issued via a distributed ledger.
This idea raises a host of central bank -specific questions that will need to be examined in
more detail. The SNB is following and analysing developments in this arena closely and is
actively involved in discussions with market participants, regulators and other central banks.
..
At the same time, the SIC system is operated not by us, but by SIX Interbank Clearing ....
https://www.snb.ch/en/mmr/speeches/id/ref_20160926_tjn/source/ref_20160926_tjn.en.pdf
