Swiss National Bank Signals Readiness to Intervene in Forex Markets
Swiss National Bank Chairman Martin Schlegel said the central bank will intervene in currency markets as needed and adjust policy to ensure appropriate monetary conditions.
The Swiss National Bank is prepared to step into foreign exchange markets when required, Chairman Martin Schlegel said on Thursday, following the central bank's latest interest rate decision.
Speaking at a press conference in Bern, Schlegel said uncertainty surrounding both inflation and economic developments remained high. He indicated that policymakers would keep a close watch on conditions and stand ready to modify monetary policy if circumstances demand it.
"We will therefore continue to monitor the situation and adjust our monetary policy if necessary to ensure appropriate monetary conditions," Schlegel said, according to prepared remarks.
He added that the central bank was also willing to intervene in the foreign exchange market as necessary. The comments underscore the SNB's dual approach of using both interest rate tools and currency market operations to steer monetary conditions.
The remarks came as the central bank navigates an environment marked by persistent uncertainty over price pressures and the broader economic outlook.