SNB's President Jordan: Cannot say when Switzerland will return to positive rates

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31 October 2019

SNB's President Jordan: Cannot say when Switzerland will return to positive rates

Says exemptions to negative rates would reduce their effectiveness
Cites dangers of shrinking interest rate spread
Negative rates and readiness to intervene in FX still essential to keep pressure on franc

European stocks closed: FTSE 100 7,248.38 -82.40 -1.12% DAX 12,866.79 -43.44 -0.34% CAC 40 5,729.86 -36.01 -0.62%

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