29 November 2001, 13:47 SNB's Roth says euro weakness vs Swiss franc since Sept 11 is only temporary
BERN (AFX) - Swiss National Bank president Jean-Pierre Roth said
the continued weakness of the euro against the Swiss franc compared
with pre-Sept 11 levels is only temporary.
Speaking to a financial conference in Vienna, Roth said: "The
development was due to extraordinary circumstances. Therefore the
effect is only temporary."
Prior to the strikes, the euro was trading at around 1.53 sfr. It
fell briefly to under 1.45 sfr and has since stabilised around
1.45-1.47 sfr.
Roth also said: "The value of (Switzerland's) independent monetary
policy should not be underestimated."
The independence allows Switzerland's monetary policy to be adapted
to the needs of the national economy, he noted.
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