Jordan says SNB can fight strong franc

FRANKFURT: The Swiss National Bank has room to cut interest rates further below zero and is willing to increase the size of its balance sheet through currency intervention to prevent an already “significantly overvalued” franc from strengthening, President Thomas Jordan said.

“There's a willingness to intervene if necessary, and we can use our balance sheet if it makes sense,” Jordan said in an interview with Bloomberg Television in Washington on Saturday, where he attended the spring meetings of the International Monetary Fund and the World Bank.