SNB Ready To Intervene Currency Markets To Prevent Franc Appreciation, Jordan Says

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13:41 GMT

Jul 2009

SNB Ready To Intervene Currency Markets To Prevent Franc Appreciation, Jordan Says

(RTTNews) - Thursday, Swiss National Bank board member Thomas Jordan said the bank is willing to continue its intervention in currency markets to prevent Swiss franc appreciation.

“We continue to be ready to intervene if necessary”, Jordan told reporters in Lucerne, Switzerland. “We don’t want an appreciation of the franc.”

On June 18, the SNB had said it will take firm action to prevent an appreciation of the Swiss franc against the euro. The central bank also left its three-month libor target range unchanged at 0%-0.75%.

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