SNB reaffirms commitment to exchange rate limit

Switzerland

Thomas Jordan, chairman of the Swiss National Bank (SNB), today stressed the central bank's continued commitment its exchange rate ceiling of Sfr1.20 to the euro.

At a press conference, Jordan said the SNB continues to face "major challenges". "In particular, the threat that the Swiss franc could suddenly come under upward pressure again has not been averted," he said.

The Swiss franc is currently trading at Sfr1.23 to the euro, and the central bank has not had to enforce its minimum exchange ra

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