1 Min Read
ZURICH, May 18 (Reuters) - The Swiss National Bank (SNB) will maintain its ultra-loose monetary policy to help rein in the strong franc, Chairman Thomas Jordan was quoted as saying in a newspaper interview published on Thursday.
"The overvalued franc, the underutilisation of production capacity and low inflation make it necessary for us to stick to our expansive monetary policy," Jordan told Corriere del Ticino.
Jordan said the franc was still "significantly overvalued".
In an abridged version of the interview available on Wednesday, Jordan had said the SNB was still ready to intervene in the forex market. (Reporting by Silke Koltrowitz; Editing by Michael Shields)