The new chairman of the Swiss National Bank says the country can expect moderate economic growth of close to 1 percent for 2012, adding there is no risk of inflation in the near future, according to AP. Thomas Jordan said that as a result of the central bank's expansionary monetary policy and efforts to weaken the overvalued Swiss currency, the interest rates in Switzerland "are likely to remain low for a while yet." But he told a general meeting of SNB shareholders Friday that the low interest rates are starting to create "imbalances" and "signs of adverse developments in the Swiss mortgage and real estate market for residential property." Overall, Jordan said the latest economic data shows a continuing international economic recovery. He was appointed chairman last week.