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 to counteract the Swiss franc's significant appreciation. This move aims to safeguard price stability and economic equilibrium.

The Impact of a Strong Franc

Schlegel highlighted the franc's substantial rise, noting its potential risks to the economy. The SNB's proactive stance underscores its commitment to preventing any adverse effects on Switzerland's financial stability.

Current Market Situation

As of 10:28 am CET, the Swiss franc held steady against the US dollar, with the exchange rate at 1.21527. This stability comes amid the SNB's vigilant monitoring of currency fluctuations.