SNB's Maechler: Franc has strong overvaluation, approximately 10% above its long term average

Swiss National Bank Governing Board Member Maechler continues to make comments on monetary policy, with key quotes (via Reuters) found below:

• Inflation was a big reason for keeping monetary policy unchanged 10 days ago
• outlook on inflation remains fragile
• Franc has strong overvaluation, approximately 10 percent above its long term average
• SNB continues to use negative interest rates as a pillar of its monetary policy, to re-establish a traditional interest rate differential with some of our important partners