ZURICH, March 11 (Reuters) - The Swiss National Bank cannot leave interest rates at ultra-low levels, the central bank's chairman Philipp Hildebrand said in a TV interview on Thursday.
'We have signalled that we cannot continue this expansive monetary policy forever,' Hildebrand told Swiss TV channel SF1.
When asked whether there was a risk of a real estate bubble, Hildebrand said: 'This danger exists indeed.'
Earlier, the SNB left interest rates unchanged at its quarterly policy meeting and stuck to the same language in its fight to stop gains in the franc from choking off the recovery, saying excessive appreciation would lead to an undesired tightening of monetary conditions.
(Reporting by Sven Egenter) - Keywords: SWISS SNB/HILDEBRAND (sven-markus.egenter@thomsonreuters.com; +41.58.306.7351; Reuters Messaging: sven-markus.egenter.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'We have signalled that we cannot continue this expansive monetary policy forever,' Hildebrand told Swiss TV channel SF1.
When asked whether there was a risk of a real estate bubble, Hildebrand said: 'This danger exists indeed.'
Earlier, the SNB left interest rates unchanged at its quarterly policy meeting and stuck to the same language in its fight to stop gains in the franc from choking off the recovery, saying excessive appreciation would lead to an undesired tightening of monetary conditions.
(Reporting by Sven Egenter) - Keywords: SWISS SNB/HILDEBRAND (sven-markus.egenter@thomsonreuters.com; +41.58.306.7351; Reuters Messaging: sven-markus.egenter.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2010 AFX News
