ZURICH, Sept 15 The chairman of the Swiss
National Bank defended the bank's negative interest rate policy,
which it maintained on Thursday, saying any changes would not
help financial institutions hit by the measure.
"We understand the difficult situation for the banks, for
the insurers and the pension funds," Thomas Jordan told Swiss
TV. "But increasing the interest rate wouldn't help because it
would lead to a rise in the franc."
Jordan said the problem was the globally low level of
interest rates. "We must wait and see until this international
situation improves," Jordan said.
(Reporting by John Revill; Editing by Michael Shields)