Swiss National Bank's Stance on Franc Exchange Rate Revealed

Friedrich Müller
1 min read

News Content

In a surprising turn of events, Vice President Martin Schlegel clarified that the Swiss National Bank has no specific target for the franc exchange rate. This revelation comes less than a week after the policymakers' unexpected decision to cut interest rates in order to control the currency's gains. Schlegel emphasized that while the National Bank closely monitors the exchange rate, it only intervenes in the foreign-exchange market as necessary, reiterating the SNB's long-held stance on the matter.

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