China's central bank officials have reaffirmed their commitment to maintaining the yuan's exchange rate at a stable, reasonable, and balanced level. They emphasized the importance of preventing one-sided expectations regarding the yuan's value. Meanwhile, Swiss National Bank (SNB) Chairman Thomas Jordan highlighted the flexible inflation target that allows the central bank to respond effectively to economic shocks. He acknowledged the safe haven status of the Swiss franc, noting that declines in the global economy impact Switzerland more severely due to the currency's appreciation. Jordan also stated that the SNB's primary tools for managing the economy are policy interest rates and foreign exchange interventions, and he reiterated the central bank's focus on ensuring price stability to support Swiss economic success. Recent remarks also indicated that the Swiss franc is likely to continue being viewed as a safe haven asset.
Swiss National Bank chief flags negative rates, weakens Swiss franc https://t.co/pYWN7wpwpm https://t.co/t1UMvzP7eq
SNB'S CHAIRMAN JORDAN: THE SWISS FRANC IS LIKELY TO REMAIN A SAFE HAVEN.
SNB'S CHAIRMAN JORDAN: PRICE STABILITY HAS CONTRIBUTED TO SWISS ECONOMIC SUCCESS.