Swiss National Bank sees forex cap for foreseeable future

Mon Jun 10, 2013 4:09pm EDT
 
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MONTREAL, June 10 (Reuters) - The Swiss National Bank's cap on the Swiss franc is a central tool of monetary policy for the foreseeable future, a senior policymaker said on Monday, adding that he expected inflation to return to positive numbers by the end of this year.

"Today and in the foreseeable future, this floor on the exchange rate is an indispensable element of monetary policy," said Jean-Pierre Danthine, vice-chairman of the governing board at the Swiss National Bank at a conference in Montreal.

Danthine also said: "We still have negative inflation. We believe that we will come back to a positive number at the end of this year."