ZUG, Switzerland (Reuters) - A strong Swiss franc continues to put pressure on Switzerland’s monetary policy, Swiss National Bank (SNB) Chairman Thomas Jordan said on Wednesday.
Negative interest rates and foreign currency interventions remain the central bank’s two-pillared approach to counteract upward pressure on the Swiss franc, which remains “significantly over-valued”, Jordan said in a presentation at the Institut fuer Finanzdienstleistungen in Zug, Switzerland.
The SNB has room to further expand its balance sheet very far, Jordan added, so long as doing so proves beneficial to the Swiss economy.
Reporting by Brenna Hughes Neghaiwi
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