Swiss to keep capping franc

City A.M. Reporter
THE Swiss National Bank will enforce its cap on the Swiss franc for as long as it is necessary, the bank’s vice chairman said in a newspaper interview on Sunday.

“At the moment, the cap on the franc is the top priority,” Jean-Pierre Danthine told Swiss newspaper Le Matin Dimanche.

The SNB capped the franc, which safe-haven seekers had bid almost to parity with the euro, at SFr1.20 per euro almost two years ago to fend off deflation and recession.