BRUSSELS (dpa-AFX) - The Swiss franc remains clearly overvalued despite the positive results from the ultra-loose monetary policy that includes negative interest rates and currency market interventions by the central bank, Swiss National Bank Chairman Thomas Jordan said.
While the currency remains significantly overvalued, the expansive monetary policy has been able to stem further appreciation, especially during times of high uncertainty following the 'Bexit' vote in the UK and ahead of the presidential election in France, Jordan said in an interview to the Swiss newspaper Corriere Del Ticino, published on Thursday.
The Swiss economy has performed better-than-expected after the 1.20 CHF-EUR ceiling was lifted in January 2015, he said. The monetary policy supports the resumption of the Swiss economic recovery and helps to stabilize the inflation trend, Jordan said in an excerpt of the interview put on the newspaper's website.
Copyright RTT News/dpa-AFX