ZURICH Nov 22 The Swiss National Bank still
sees the 1.20 cap on the Swiss franc against the euro as
"absolutely necessary" and won't rule out further measures to
protect the Swiss economy, president Thomas Jordan said in a
newspaper interview on Thursday.
Asked whether a deteriorating economic situation in
Switzerland was a reason for the SNB to readjust the franc cap,
Jordan told Swiss newspaper Tages-Anzeiger: "It is above all a
reason to keep the minimun exchange rate. The weak global
economy and the difficult situation for sectors exposed to
international competition clearly show us that it is absolutely
necessary to keep the minimum exchange rate."
Jordan also said the SNB will say Swiss economic growth will
continue to be weak next year when the central bank issues its
2013 forecast at its next regular rate-setting session on Dec.