Losses are not important, we need price stability, says SNB chief Jordan, defending the bank's...

|By:, SA News Editor

Losses are not important, we need price stability, says SNB chief Jordan, defending the bank's massive purchases of euros to defend the floor against the Swiss franc. The floor however, "is not for eternity," he says. It is an "extreme measure for an extreme situation." As to what it is doing with all of those euros: High quality bonds, of course, but Jordan also tips the SNB is one of the few central banks to invest in stocks.