SNB will not abandon minimum exchange rate, Jordan says

Central Banking Newsdesk
13 Dec 2012

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The governor of the Swiss National Bank (SNB), Thomas Jordan, has stressed the central bank's "utmost determination" to maintain its minimum exchange rate of 1.2 Swiss francs to the euro.

Presenting the SNB's latest monetary policy assessment today (December 13), Jordan said the value of the franc remained high and any appreciation would have "serious consequences" for the Swiss economy. Price movements, he said, were likely to remain subdued as a result of continued weakness in the eurozone

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