SNB still ready to depreciate franc despite US condemnation

Swiss National Bank

The Swiss National Bank has said it was still willing to depreciate the franc on December 17, despite the US Treasury labelling Switzerland a currency manipulator.

In its policy statement, the SNB said it could even “intervene more strongly in the foreign exchange market”. Its statement came the day after US Treasury secretary Steven Mnuchin condemned Switzerland’s foreign exchange market interventions and current account surplus with the US.

Switzerland receives large volumes of capital

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: