Swiss National Bank (SNB) Chairman Martin Schlegel said during the European trading session on Tuesday that the central bank is now more ready to intervene against one-way appreciating moves in the Swiss Franc (CHF).
Remarks Real over-valuation of the Swiss Franc clearly lower than nominal over valuation
Central bank has raised readiness to intervene to deal with overvaluation pressure due to Middle East escalation. Market reaction The Swiss Franc has responded slightly positively to SNB Schlegel’s comments. At press time, USD/CHF trades 0.2% lower to near 0.7850.
SNB FAQs The Swiss National Bank (SNB) is the country’s central bank. As an independent central bank, its mandate is to ensure price stability in the medium and long term. To ensure price stability, the SNB aims to maintain appropriate monetary conditions, which are determined by the interest rate level and exchange rates.