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04.11.2015 09:13 Swiss National Bank President Thomas Jordan: the Swiss franc remains overvalued

The Swiss National Bank (SNB) President Thomas Jordan said on Tuesday that the Swiss franc remains overvalued, adding that the central bank intervened in the foreign exchange market.

Jordan also explained the central bank's monetary policy.

"Our current monetary policy is based on two pillars. The first pillar is the negative interest rate on sight deposits at the SNB. The second pillar is our willingness to intervene on the foreign exchange market as required," he said.

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