SNB governor on lifting the currency floor

Thomas Jordan speaks about currency intervention, negative rates and FX reserves

L to R: Christopher Jeffery and Thomas Jordan
Thomas Jordan: "By deciding quickly to discontinue the minimum exchange rate, we chose the option that was best for the country"
Louis Rafael Rosenthal

Thomas Jordan, chairman of the Swiss National Bank, has overseen its commitment to the Swiss franc’s floor with the euro since becoming chairman in 2012 – including its sudden removal on January 15, 2015, which rattled the FX industry at the time.

In an interview conducted on July 6 by our sister publication, Central Banking, Jordan clarifies the SNB’s action on that auspicious day, and comments on the central bank’s negative interest rate policy, the size of its balance sheet and its large FX

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