SNB's Stance on Currency Intervention

In a recent statement, Swiss National Bank Chairman Martin Schlegel emphasized the central bank's readiness to step into the foreign exchange market to counteract the Swiss franc's ongoing appreciation. This move aims to safeguard the country's economic stability against potential risks posed by the currency's strength.

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. Schlegel highlighted the franc's significant appreciation, which could threaten price stability, signaling the SNB's proactive stance in maintaining economic equilibrium.