October 17, 2017 / 5:42 AM / 10 months ago

Swiss National Bank stays committed to expansive course - chairman

ZURICH, Oct 17 (Reuters) - The Swiss National Bank remains committed to its current expansive monetary policy despite a reduced upward pressure on the Swiss franc and an improving global economic situation, Chairman Thomas Jordan told Swiss broadcaster SRF.

As other central banks weigh normalising policy, Jordan said it was important they moved gradually.

“It is in the interests of everyone that they don’t wait too long,” he said. Although the situation for Switzerland was different, Jordan added.

“Our monetary policy remains unchanged,” he said. “We have two pillars - negative interest rates and our readiness to intervene in the currency markets when necessary. These two pillars are still very important.

“With these we want to reduce the pressure on the franc. This has weakened somewhat, but the situation on the currency market remains very fragile,” Jordan stated in the interview.

“That’s why it’s important to continue our monetary policy.” (Reporting by John Revill; Editing by Sherry Jacob-Phillips)

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