ZURICH Jan 6 The Swiss National Bank's cap on
the Swiss franc continues to play a central role in monetary
policy, and is the correct tool for ensuring appropriate
monetary conditions for the foreseeable future, the central
bank's chairman said on Monday.
"At the moment, and for the foreseeable future, the minimum
exchange rate is the right instrument for ensuring appropriate
monetary conditions in Switzerland," SNB Chairman Thomas Jordan
told Swiss television, according to a transcript of the
interview, due to be broadcast later on Monday evening.
The SNB capped the franc at 1.20 per euro more than two
years ago to stave off recession and deflation after investors
seeking a safe-haven from turmoil in the euro zone pushed the
unit close to parity.
(Reporting by Alice Baghdjian)