SNB's Stance on Currency Intervention

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

The Impact of a Stronger Franc

Schlegel pointed out the franc's notable rise, stating, "appreciated really a lot," which could potentially destabilize the economy. The SNB's proactive stance highlights its commitment to safeguarding Switzerland's financial health against unfavorable currency fluctuations.

Current Market Status

As of 10:28 am CET, the Swiss franc held steady against the US dollar, with the exchange rate marked at 1.21527. This stability follows the SNB's announcement, reflecting the market's response to potential interventions.