Swiss National Bank Vice Chairman Fritz Zurbruegg: negative interest rates were temporary

Market news

2 October 2015

Swiss National Bank Vice Chairman Fritz Zurbruegg: negative interest rates were temporary

The Swiss National Bank (SNB) Vice Chairman Fritz Zurbruegg said on Thursday that negative interest rates were temporary.

"This can't be business as normal. This is a temporary situation," he said.

Zurbruegg noted that the Swiss franc is overvalued and the central bank will intervene in the foreign exchange market if needed.

United Kingdom: PMI Construction, September 59.9 (forecast 57.5)

San Francisco Fed President John Williams expects the Fed to start raising its interest rates this year, maybe in October

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