The Swiss National Bank (SNB) Chairman Thomas Jordan on Thursday acknowledged difficulties that the strong Swiss Franc is causing for Swiss industry, which is already dealing with weaker demand from other European countries, per Reuters.
Key quotes
The mandate of the SNB is to maintain price stability—a crucial precondition for society and a good functioning economy.
Price stability is a crucial precondition for prosperity.
Germany and Europe are the main markets for industry. If the growth is weak there, this automatically affects demand for our industrial goods.
The exchange rate ... does not make the situation easier. It makes it difficult for the industry,
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