November 7, 2018 / 9:30 AM / 8 days ago

Swiss franc still highly valued, cabinet and SNB agree

ZURICH, Nov 7 (Reuters) - The Swiss government and the Swiss National Bank see the franc currency as highly valued, the cabinet said on Wednesday after its annual meeting with SNB Chairman Thomas Jordan.

“Overall, the global economy continues to develop robustly, and the economy is also in good shape in Switzerland. However, the risk of a worsening international situation has increased,” it said in a summary of what was discussed.

“Inflation remains low and the situation on the foreign exchange market is fragile. The franc remains highly valued. Against this background...Jordan emphasised that monetary policy with negative interest rates and the willingness to intervene (on foreign exchange markets) remains necessary.” (Reporting by Michael Shields)

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