Bloomberg News

Jordan Says Franc Remains ‘Strong Currency’, SNB Is Ready to Act

November 15, 2011

Nov. 14 (Bloomberg) -- Swiss central bank Vice Chairman Thomas Jordan said the franc remains a “very strong currency” and policy makers are ready to take further measures to counter risks to price stability and the economy if needed.

“We’re constantly monitoring the situation” and are ready to act if needed, Jordan told Swiss television SF1 in an interview from Zurich today. “The franc is still a very strong currency. We expect a significant economic slowdown.”

Jordan declined to say whether policy makers would raise the franc ceiling from 1.20 versus the euro. He also said that the Swiss National Bank “acted in full independence” and not under any political pressure when introducing the cap.

To contact the editor responsible for this story: Simone Meier at smeier@bloomberg.net


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