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SNB Ready to Act If Franc Strength Worsens Outlook, Jordan Tells Le Matin
Switzerland’s central bank remains ready to act if the franc’s strength worsens the outlook for the economy, governing board member Thomas Jordan said. “Since Sept. 6 we have been saying that we were ready to take further measures if the economic outlook and the risk of deflation require it,” Swiss National Bank (SNBN) Vice President Jordan told the Geneva-based Le Matin Dimanche newspaper in an interview published today. “The franc is still highly valued.” The SNB on Sept. 6 imposed a limit of 1.20 francs versus the euro to combat the threat of deflation and help exporters after the Swiss currency gained ... (full story)
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