SNB’s Zurbruegg: Will keep ability to intervene in foreign exchange markets if needed
|“Swiss National Bank (SNB) will keep ability to intervene in foreign exchange markets if needed to ensure price stability,” the central bank’s Vice Chairman Fritz Zurbruegg said in an interview with Swiss newspaper l'agefi published on Wednesday.
Additional quotes
“It's important to keep lower interest rates than others to avoid excessive appreciation of the Swiss franc.”
“SNB will raise interest rate "as soon as the situation requires it”.
Market reaction
The Swiss franc remains unfazed by the above comments, keeping USD/CHF near 0.9200, up 0.11% on the day.
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