SNB’s Schlegel: Central bank is open to adjust monetary policy and made interventions
Swiss National Bank (SNB) Chairman Martin Schlegel said at the SNB's General Meeting during the European trading hours on Friday that the central bank has unrestricted room to maneuver on policy rate and made forex interventions.
Additional remarks
Middle East conflict will lead to subdued economic growth in Switzerland.
Will adjust monetary policy if necessary.
Higher energy prices will lift Swiss inflation.
Given the conflict in Middle East, our willingness to intervene in forex markets has increased.
Market reaction
There seems to be a slight positive response by the Swiss Franc (CHF) after SNB Schlegel's remarks. As of writing, USD/CHF is amrginally down to near 0.7860.
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