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Swiss National Bank (SNB) Chairman Thomas Jordan reiterated on Tuesday that negative interest rates remain absolutely necessary and added that there is only a small inflation risk in Switzerland, as reported by Reuters.

Jordan further noted that he sees no reason to change the current monetary policy settings and repeated that the Swiss franc remains very strong.  

Market reaction

The USD/CHF pair showed no immediate reaction to these remarks and was last seen trading at 0.8964, where it was down 0.05% on a daily basis.