March 19, 2020 / 10:17 AM / 15 days ago

Swiss National Bank's Jordan says monetary policy alone cannot tackle coronavirus

ZURICH, March 19 (Reuters) - Fiscal measures are needed as well as monetary policy to help Switzerland’s economy deal with the contraction triggered by the coronavirus outbreak, Swiss National Bank Chairman Thomas Jordan said on Thursday.

“It is very important to recognise that the key measures do not come from central banks, but from medical measures and also from the fiscal side,” Jordan told a conference call with reporters.

“We have to provide the financial system with enough liquidity to ensure the credit flow to the economy does not dry firms can survive this very difficult situation,” he said after the SNB said it was working with the Swiss government to cushion the impact of the outbreak. (Reporting by John Revill; Editing by Michael Shields)

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