On Air Now
WRS Music

WRS Music

-
Music hits throughout the day
Listen Live
Just Played
BBC Newshour Extra

BBC Newshour Extra

12:10 p.m. - 1 p.m.
 
Next on WRS

SNB president says there is still room for expansion, despite strong franc

Local News // Aug. 2, 2016
SNB president says there is still room for expansion, despite strong franc

The Swiss National Bank is still fighting the strength of the franc following the Brexit vote - but the head of the central bank, Thomas Jordan, says there's still room on the balance sheet for more expansion.

Jordon confirmed in a speech in Bali, Indonesia that although the bank's asset sheet is huge - there's still room for maneuver.

The Swiss franc is seen  as a safe haven by investors in times of uncertainty and although the national bank is charging negative interest rates for banks to keep their money with them - over half a trillion francs is lodged at the SNB.

Jordon confirmed the bank is printing francs to buy other currencies in an attempt to keep the value of the franc down.

There could be further upward pressure on the franc after Thursday when the Bank of England is widely expected to cut interest rates to just a quarter of one percent to boost the economy which is now stalling after the vote to leave the EU.

Related articles

Search