Swiss Franc Ceiling Here to Stay, SNB’s Jordan Says

Swiss National Bank (SNBN) President Thomas Jordan said he has no intention to change or scrap a franc ceiling of 1.20 versus the euro.

“We will maintain our current policy for as long as necessary,” Jordan said on July 20 in Moscow, where he attended a meeting of Group of 20 finance chiefs. “This monetary policy stance is needed to act within our mandate.”