SNB's Jordan: Scottish vote source of new insecurity

Speaking on the Swiss radio following the announcement of the September monetary policy decision, SNB president Thomas Jordan reiterated that the franc is still excessively strong and that by maintaining the cap the central bank ensures adequate conditions.

Further measures would be implemented should the need arise, Jordan assured.

He once again stated that the threat of deflation had risen, the economic outlook deteriorated and he pointed to the Scottish independence referendum as a "source of new insecurity."