SNB's Jordan – repeated opposition to gold vote, says could hamper SNB intervention effort via ForexLive

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Thomas Jordan, head of the Swiss National Bank, spoke on Sunday, Reuters with the report:

  • “The initiative is dangerous because it would weaken the SNB”
  • “The connection between a minimum share and a ban on selling which it embraces would very greatly restrict our monetary policy room for maneuver”
  • Said the SNB had no plans to either buy or sell gold.
  • He also said the terms of the initiative could hamper the SNB's efforts to implement its minimum exchange rate at 1.20 francs per euro

Note – support has declined to 38% according to the latest poll (last Wednesday)

posted via ForexLive

Posted In: FuturesForexGlobalEconomics
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