SNB Chairman Thomas Jordan said over the week end that currently, Swiss Franc’s exchange rates were “still highly valued”. But “there is no reason to change monetary policy”. However, he also emphasized SNB has room “to lower interest rates further”, “to use the balance sheet” and “for interventions in foreign exchange markets”.

He also added that profits of the banking system have been relatively stable despite SNB’s negative interest rates. Though, it’s still improtant to keep an eye on risks as many major central banks set low or negative interest rates.

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