While speaking at an economic forum in Landquart, Switzerland, the Swiss National Bank’s Vice-Chairman Fritz Zurbruegg said that the situation in the forex markets was still fragile to reiterate Chairman Jordan comments from last week.
Key quotes (via Reuters)
- Uncertainties have risen of late, including protectionism, Brexit, Italy.
- Outlook for Swiss economy favourable.
- Highly valued swiss franc remains a risk.
- Inflationary pressure remains slight.
- Interest rate differentials important for exchange rates.
- Current monetary policy remains appropriate.
- Heightened uncertainty, highly valued franc, low inflation pressure and global low rates warrant expansive policy.