Danthine defends SNB FX intervention
Jean-Pierre Danthine, a member of the governing board at the Swiss National Bank (SNB), on Thursday said the central bank's intervention in foreign exchange markets during the past two years was within its price stability remit and necessary to avoid deflation.
At an event in Zurich, Switzerland, Danthine said: "The SNB acted on foreign exchange markets in this period for one reason and one reason only: the zero interest rate lower bound had been reached and the economic situation unequivocally
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