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MNI BRIEF: SNB 'Not a Currency Manipulator' - Jordan

FRANKFURT (MNI)

Addressing the accusation of currency manipulation by the Swiss authorities - a charged levelled by the U.S. Treasury department in its latest report published Wednesday - Swiss National Bank President Thomas Jordan said "It's clear that the SNB is not a currency manipulator."

"The US Treasury report has no impact on our monetary policy. Our monetary policy is necessary and legitimate. We will continue with this monetary policy," he added.

Asked what concessions the SNB would consider making to appease the US, Jordan replied "We have made a huge step forward regarding the transparency of our [FX] operations. There is no room for concessions. We do not use monetary policy to get any advantage for trade purposes. We have to follow the policy, that is legitimate".

The comments came in a press briefing following the SNB's decision to keep monetary policy on hold.


MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
SNBPolicy NewsHomepageSwitzerlandCentral Bank NewsCEEMEABriefStoryRegion
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
SNBPolicy NewsHomepageSwitzerlandCentral Bank NewsCEEMEABriefStoryRegion
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