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16.06.2016 17:44

Swiss National Bank Chairman Thomas Jordan: the SNB will intervene in the foreign exchange market if needed

The Swiss National Bank (SNB) Chairman Thomas Jordan said in a press conference on Thursday that the central bank would intervene in the foreign exchange market if needed. He pointed out that the franc remained significantly overvalued.

Jordan noted that the Swiss economy was expanding moderately this year.

The SNB chairman also said that the SNB would monitor the results of the referendum on Britain's membership in the European Union, and it would act if needed.

"Next week's UK referendum on whether to remain in the EU may cause uncertainty and turbulence to increase. We will be monitoring the situation closely and will take measures if required," Jordan noted.

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