Swiss National Bank President Thomas Jordan: the Swiss franc remains overvalued

Market news

4 November 2015

Swiss National Bank President Thomas Jordan: the Swiss franc remains overvalued

The Swiss National Bank (SNB) President Thomas Jordan said on Tuesday that the Swiss franc remains overvalued, adding that the central bank intervened in the foreign exchange market.

Jordan also explained the central bank's monetary policy.

"Our current monetary policy is based on two pillars. The first pillar is the negative interest rate on sight deposits at the SNB. The second pillar is our willingness to intervene on the foreign exchange market as required," he said.

European Central Bank's President Mario Draghi: the central bank will review the volume of its asset-buying programme at the monetary policy meeting in December

Eurozone: Services PMI, October 54.1 (forecast 54.2)

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