SNB's Jordan on Franc, Foreign-Reserve Intervention

The transcript discusses the overvaluation of the Swiss franc, the challenges in boosting inflation, and the monetary policy strategies employed by Switzerland, including negative interest rates and foreign exchange interventions. It highlights the global economic influences, particularly the role of central banks like the ECB, and the ongoing efforts to regulate Swiss banks and finalize Basel III. The conversation also touches on the conundrum of low inflation despite closed output gaps and full employment in many economies.

What factors are contributing to the difficulty in boosting inflation in Switzerland?

What is the current status of the Phillips curve in relation to wage inflation?

What steps are being taken to regulate Swiss banks and address the 'too big to fail' problem?