The Swiss National Bank could ease monetary policy further without having to resort to currency interventions to counter a soaring franc, Vice Chairman Thomas Jordan was quoted as saying on Thursday, as investors speculated over the bank’s next move.
The franc dropped 5 percent against the dollar and the euro after Jordan declined to rule out any measure that was compatible with independent monetary policy, including temporarily pegging the franc to the euro.
…… the SNB may slow appreciation but is unable to prevent it. Other central banks (e.g. BOJ) have tried and failed.