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Swiss government calls franc 'highly valued' after meeting SNB boss
November 15, 2017 / 11:01 AM / 3 days ago

Swiss government calls franc 'highly valued' after meeting SNB boss

ZURICH (Reuters) - The Swiss government said on Wednesday the Swiss franc remained “highly valued” despite its recent weakening versus the euro, echoing the language used of late by the Swiss National Bank.

SNB Chairman Thomas Jordan, during his annual meeting with the government, stressed that negative interest rates and readiness to intervene on currency markets remained appropriate to restrict appreciation of the currency, the cabinet said in a statement after the meeting.

“Highly valued” is the term the SNB has used since September to describe the franc since the currency weakened over the summer following the easing of political risks in Europe.

Reporting by John Revill; Editing by Michael Shields

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