SNB’s Zurbruegg: There is no limit to how far bank's balance sheet can expand
Vice Chairman of the Swiss National Bank (SNB), Fritz Zurbruegg, recently crossed wires while appearing for an interview with the Swiss Newspaper Neue Zuercher Zeitung. The policymaker showed readiness to intervene into the markets, if needed, without caring if the US terms them the currency manipulator.
Key quotes
There is no limit to how far bank's balance sheet can expand.
Currency interventions are vital.
Monetary policy cannot cushion economic effect of the coronavirus (COVID-19).
Not concerned about possibility of being named a currency manipulator by the US.
Market reaction
Although the news should be observed with a pinch of salt, USD/CHF stays pressured around 0.9470 following the release.
Reprinted from FXStreet,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.