Schlegel suggests SNB prefers FX interventions to negative rates
President says central bank will adjust policy ‘if necessary’
The Swiss National Bank (SNB) would rather intervene in foreign exchange markets than turn monetary policy negative, Martin Schlegel has suggested.
Speaking at the bank’s general meeting of shareholders on April 24, the chairman of the SNB’s governing board said its 0% policy rate was still making the Swiss currency less attractive for foreign investors.
“This reduces the appreciation pressure on the Swiss franc,” he said. “If necessary, we can additionally dampen the upward pressure by purchasing
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