SNB's Jordan: Franc cap shift not excluded

FXstreet.com (Barcelona) - In his speech before the Press Club in Frankfurt on Tuesday the head of the Swiss National Bank, Thomas Jordan, assured that the current franc cap of 1.20 per euro would be maintained for as long as necessary in the face of low inflation and growth. Nevertheless, he added that an adjustment of the EUR/CHF floor and negative interest rates were not excluded as means of defending the franc cap.

Jordan also said that the SNB would continue to purchase unlimited quantities of foreign currency if necessary, pointing out that the value of the franc was still elevated.

Additionally, the SNB head declared that the central bank was not currently planning to change its gold holdings.