SNB’s Maechler: CHF still highly valued

Handelszeitung is out with the following headlines from an interview with the Swiss National Bank (SNB) Governing Board member Maechler, as he speaking on the exchange rate value.

CHF still highly valued and even somewhat stronger in recent months

It is hardly foreseeable that CHF demand will fundamentally change.

The situation on currency market remains fragile, interest rate spread to foreign rates still very small.

At present, there is no special inflation dynamism in Switzerland.

We also see little inflation momentum for next year.

The premature raising of interest rates would be counterproductive.