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SNB’s Jordan: Support for Exiting Cap was Unanimous

The Swiss National Bank’s decision to give up its cap on the franc, which roiled financial markets, was backed by all governing board members, President Thomas Jordan said.

“We always take all decisions together, after an intensive discussion,” he said in an interview with the German-language Neue Zuercher Zeitung and French Le Temps published in today’s issues. “It goes without saying.”

The interview comes after the SNB sent shock waves through currency and equity markets on Jan. 15 by announcing it was abandoning its three-year-old cap of 1.20 per euro on the franc and instead increasing the charge on deposits still further. Among investors, reactions ranged from “idiotic” to “brave.”

Bloomberg [1]

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