Inflation

SNB: Swiss franc remains "highly" overvalued

Switzerland’s central bank on Thursday softened its longstanding warning about the strong franc but still said that it was "highly valued, " suggesting Swiss officials aren’t fully satisfied yet with the franc’s weakening against the euro.

"The Swiss franc nevertheless remains highly valued, and the situation on the foreign exchange market is still fragile," the SNB said in a statement after its quarterly policy review.

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SNB: negative interest rates are vital for Switzerland

The Swiss franc’s recent weakening against the euro is a positive development but the trend was “fragile”, Swiss National Bank governing board member Andrea Maechler said on Thursday.

“Overall, the trends are pointing in the right direction for the Swiss franc, but it is too early to say whether these trends are sustainable,” Maechler told an economic conference in Yverdon-Les-Bains.

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