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The Swiss National Bank’s (SNB) Governing Board Chairman Thomas Jordan, speaking at the General Meeting of Shareholders in Bern, was convinced that rates will eventually turn positive again, cannot say when.

Additional quotes:

   “¢   Future rate increase depends on inflation, FX developments.
   “¢   Negative rates, readiness to intervene in the FX market remains necessary and appropriate.
   “¢   Abandoning negative rates now would hardly improve the situation for savers, pension funds, life insurers and banks.