September 14, 2017 / 10:24 AM / 10 months ago

SNB chairman committed to current expansive policy - Swiss TV

ZURICH (Reuters) - The Swiss National Bank has not considered altering its expansive monetary policy despite the recent weakening of the franc, Swiss National Bank Chairman Thomas Jordan said.

Swiss National Bank (SNB) Chairman Thomas Jordan makes a speech during the Swiss International Finance Forum in Bern, Switzerland June 20, 2017. REUTERS/Arnd Wiegmann

“We see absolutely no reason for us to change our monetary policy at present,” Jordan told Swiss broadcaster SRF.

The franc remained overvalued, Jordan said. “We must wait and see how sustainable this development that we have seen is,” said Jordan, who said decisions by the European Central Bank and the U.S. Federal Reserve were very important to the SNB’s future deliberations.

Reporting by John Revill; Editing by Michael Shields

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