ZURICH (Reuters) – The Swiss National Bank believes the Swiss franc’s increase in value to above parity versus the euro is unlikely to have a significant impact economically, Chairman Thomas Jordan said in an interview broadcast on Saturday.
The currency has surged as investors sought safe-haven assets during the Ukraine war, briefly rising above 1 franc to one euro before weakening to around 1.02 francs to the euro. A year ago, a euro bought 1.10 francs.
“From an economic perspective, it’s not got a big importance,” Jordan told SRF when asked if the franc rising above parity was a level the central bank would fight.
“We don’t give any forecasts where the exchange rate will go, but what’s important is, we don’t just look at the euro but all currencies together…and also the inflation differences, that’s very important.”
(Reporting by John Revill; editing by Barbara Lewis)