Switzerland’s Finance Minister Ueli Maurer said yesterday that the Swiss Franc is still overvalued relative to Euro. He noted that “we like more 1.20 but at the moment we have 1.16”. Nonetheless, “we can live with this, I think.”
Maurer sounds he’s still unhappy with the huge balance sheet of SNB. He noted that “of course with all this intervention, we have a big, big balance sheet, but that’s a result of the policy of the last year and the pressing of the Swiss franc and the weakness of the euro.” But overall, Maurer said he believed the central bank and it had “made good policy”.
