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SNB's Jordan says raising rates wouldn't help Swiss financial sector

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)

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