The Swiss National Bank will keep the franc cap as long as necessary, central bank board member Fritz Zurbruegg told L’Hebdo weekly in an interview published Thursday.
The minimum rate will remain as long as it is necessary for the central bank to fulfill its mandate of price stability.
The central bank set a 1.20 per euro cap on franc in September 2011 to curb deflation and to support economic growth.
Zurbruegg told the newspaper than the SNB still sees the exchange rate as “overvalued.”
by RTT Staff Writer
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