SNB’s Jordan defends exchange rate intervention

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Chair of the governing board of the Swiss National Bank (SNB) Thomas Jordan said on April 27 that the minimum exchange rate policy being pursued by the central bank was proving "effective". Since September 2011, the central bank has pursued a policy of imposing a minimum exchange rate of Sfr1.20 to the euro.

Jordan said the minimum exchange rate policy benefited the Swiss economy, as it gave market participants a degree of certainty. Speaking to a general meeting of shareholders, Jordan said

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