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- Swiss National Bank President Thomas Jordan: the Swiss franc remained overvalued
Swiss National Bank President Thomas Jordan: the Swiss franc remained overvalued
The Swiss National Bank (SNB) President Thomas Jordan said in a press conference after the release of the central bank's interest rate decision that the Swiss franc remained overvalued, and the central bank "remains active in the foreign exchange market in order to influence the exchange rate situation".
Jordan noted that the global economy expanded weaker than expected in the third quarter of 2015, due to the weak "manufacturing activity around the globe and sluggish world trade". The slowdown in the global economy weighed on the Swiss economy, he added.
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