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SNB’s Jordan Says Cap ‘Crucial Tool’ to Protect Economy

Swiss National Bank President Thomas Jordan said ceiling on the franc remains essential to protect the economy.

“The minimum exchange rate is very important,” Jordan said on Oct. 12 in Washington, where he attended the joint annual meetings of the International Monetary Fund and the World Bank. “It remains a crucial tool of our monetary policy in order to avoid a tightening of monetary conditions in Switzerland.”