SNB's Andrea Maechler speaks in Zurich
- CHF still significantly overvalued
- SNB prepared to intervene in FX markets if necessary
- Willing to expand balance sheet if needed
- Aware of side effects of negative rates
- Foreign currency reserves will remain high as long as mon pol requires
- Readiness to intervene of FX remains an important element in combating overvalued franc
Nothing we haven't heard a hundred times before
