June 18, 2020 / 10:54 AM / 17 days ago

SNB has leeway to lower rates, Jordan tells CNBC

ZURICH, June 18 (Reuters) - The Swiss National Bank has leeway to cut rates even further into negative territory if needed, SNB Chairman Thomas Jordan told broadcaster CNBC after the central bank left its ultra-loose policy on hold on Thursday.

"We do not have any specific timeframe for changing monetary policy, but for the time being, it's very important to stick to this expansionary policy, to the same negative interest rate," Jordan said.

"We even have potential to lower rates further if necessary," he said, adding that lowered inflation forecasts for coming years made it likely the central bank would need to keep its expansive stance for a longer time. (Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

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