The negative interest rate and the willingness to intervene in the foreign exchange market allow the Swiss National Bank (SNB) to counteract the attractiveness of investments in Swiss francsSNB President Thomas Jordan said Monday, Reuters reported.
“In general, an overvalued Swiss franc can also pose a problem for the financial industry“Jordan added, but noted that banks have been able to withstand the effects of the pandemic well so far.
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Credits: Forex Street
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