Swiss National Bank on High Alert Over Franc's Rise

In a significant statement, Swiss National Bank Chairman Martin Schlegel has reiterated the bank's readiness to step into the foreign exchange market to counteract the Swiss franc's ongoing appreciation. This move underscores the central bank's vigilance in safeguarding economic stability against potential risks posed by currency fluctuations.

Franc's Appreciation Raises Concerns

Schlegel pointed out that the franc has "appreciated really a lot," highlighting the challenges this poses for maintaining price stability. The SNB's proactive stance reflects its commitment to acting decisively to prevent any adverse effects on the economy from currency movements.

Current Market Status

As of 10:28 am CET, the Swiss franc remained steady against the US dollar, trading at 1.21527, signaling a moment of calm in the midst of potential intervention talks.