SNB’s Jordan: Very low rates for a long time could have negative consequences

The Swiss National Bank (SNB) Chairman Thomas Jordan is on the wires now, delivering opening remarks at the Swiss International Finance Forum, in Bern.

Main Headlines:

Current policy is necessary

Difficult currency situation means it doesn't make sense to reduce interest rate differential with other economies at this stage

Negative rates and intervention help keep CHF on track

CHF still considerably over-valued

Very low rates for a long time could have negative consequences

Negative side effects of Swiss mon pol limited

Should not focus on inflation goal in exaggerated manner