Swiss National Bank Chairman Martin Schlegel reiterates preparedness to act against Swiss Franc appreciation, citing unchanged inflation pressures.
Swiss National Bank (SNB) Chairman Martin Schlegel stated the central bank has heightened its readiness to intervene in the foreign exchange market to counter the Swiss Franc’s (CHF) appreciation. The remarks, made during Wednesday’s European trading session, echo similar comments from Tuesday, emphasizing the SNB’s proactive stance amid currency strength.
Mid-term inflation pressures in Switzerland remain largely unchanged, according to Schlegel, while global economic growth faces temporary slowdown risks and elevated uncertainty. The hotel industry, despite CHF strength, retains price competitiveness, the SNB noted.
The USD/CHF pair showed little reaction to Schlegel’s comments, trading 0.25% higher near 0.7895, driven by broader USD strength rather than SNB-specific developments.