That what they really want is for CHF to depreciate by 30%.
Goldman says:
Released: Tuesday, August 25, 2009
Jordan reiterates: no need to change monetary stance
In a speech, his second speech today, SNB board member Jordan stressed again - after an interview on August 18th with the same message - that there was no need for the SNB to change its monetary policy stance. While acknowledging that "also for the Swiss economy indicators are signaling a turn for the better", "dis-inflationary tendencies are still dominating".
More specifically Jordan said that the time for a change in monetary policy has not come. There is "no necessity to act". In fact, the SNB will continue its "very expansionary monetary policy".
The SNB will hold its next quarterly meeting on September 17th.
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