SNB's Jordan cautions on low rates

Responsible behaviour on the part of homeowners, and bank discipline when granting loans, is needed to ensure that a low-interest environment does not lead to destabilisation of the property market, said Thomas Jordan, a member of the Swiss National Bank's central bank's governing board.

Jordan said that prolonged periods of low interest rates could lead to speculation on property markets, and to declining standards in mortgage lending. He said that households should buy property only if they

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