SNB's Stance on Currency Intervention

In a recent statement, Swiss National Bank Chairman Martin Schlegel emphasized the central bank's readiness to intervene in the foreign exchange market. This move comes as the Swiss franc's significant appreciation raises concerns over price stability and economic balance.

Current Market Situation

Highlighting the franc's sharp rise, Schlegel pointed out the potential risks to the economy. Despite these concerns, as of 10:28 am CET, the Swiss franc remained stable against the US dollar, trading at 1.21527.

Looking Ahead

The SNB's proactive stance underscores its commitment to safeguarding the Swiss economy from the adverse effects of currency volatility. Market watchers are keenly observing the central bank's next moves in this evolving scenario.