SNB's Jordan: Ready to act on ECB rate cut impact

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Łódź) - During the press conference following SNB's decision to hold monetary policy steady, Chairman of the Governing Board Thomas Jordan said that the central bank was closely monitoring the situation and was prepared to act on the impact of ECB's interest rate cut.



The SNB head assured that he didn't see inflation risks for Switzerland, as medium-term inflationary pressures have receded.



Vice Chairman of the Governing Board Jean-Pierre Danthine, who spoke next, stressed that the economic and financial conditions remained challenging and urged banks to improve transparency.



USD/CHF slid further to 0.8926 on the comments, as the dollar weakened across the board.



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