Jordan laments ‘significantly overvalued’ franc
SNB chair justifies decision to shock markets
The Swiss National Bank's Thomas Jordan believes the Swiss franc is "significantly overvalued", as the country continues to grapple with "very difficult exchange rate conditions".
On January 15 the SNB ended its exchange rate commitment, causing the franc to appreciate by more than 20% against the euro. Jordan told an audience at the Université libre de Bruxelles that although "some of the overshooting has since been corrected" the currency is still too strong.
Jordan, chairman of the SNB
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