Swiss National Bank says expansive policy more necessary than ever – ZAWYA

Swiss National Bank says expansive policy more necessary than ever – ZAWYA

Swiss National Bank says expansive policy "more necessary than ever" | ZAWYA MENA Edition HomeEconomyGlobalArticleSwiss National Bank says expansive policy "more necessary than ever" Foreign exchange market interventions were and still are the most direct and thus the most effective instrument    ZURICH- The Swiss National Bank is unlikely to change course from its ultra-loose monetary policy as the novel coronavirus pandemic increases appreciation pressure on the safe-haven Swiss franc, SNB Chairman Thomas Jordan said on Tuesday.The SNB's twin-track approach of foreign currency purchases and negative interest rates "remains more necessary than ever", Jordan said in remarks prepared for a speech to the International Monetary Fund."Foreign exchange market interventions were and still are the most direct and thus the most effective instrument besides the negative interest rate," Jordan said.The SNB's twin-track approach of foreign currency purchases and negative interest rates "remains more necessary than ever", Jordan said in remarks prepared for a speech to the International Monetary Fund.ZURICH- The Swiss National Bank is unlikely to change course from its ultra-loose monetary policy as the novel coronavirus pandemic increases appreciation pressure on the safe-haven Swiss franc, SNB Chairman Thomas Jordan said on Tuesday."Foreign exchange market interventions were and still are the