The Swiss National Bank stands ready to take further measures if the economic outlook and the risk of deflation so require, interim central bank President Thomas Jordan said Tuesday.
He said the SNB remains firmly committed to defending the minimum exchange rate at all times. "The SNB will not tolerate any trading below the minimum rate in the relevant interbank market."
To enforce this policy, the central bank is prepared to buy foreign currency in unlimited quantities if necessary, he added.
He observed that even at the current exchange rate, the Swiss franc is still very strong.
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