SNB’s Jordan: The US watchlist does not affect ability to intervene

Further comments are crossing the wires from the Swiss National Bank (SNB) Thomas Jordan, via Reuters, as he now about the US adding Swiss to the currency manipulation watchlist earlier this month.

The US watchlist does not affect ability to intervene, we have good dialogue with the US.

We explain situation carefully to US, they understand Swiss position.

We do not manipulate currency; we intervene to steer monetary conditions in Switzerland.

Smaller interest rate differential is key reason for negative rates.