SNB officials said at a meeting with the government on Wednesday that the bank is ready to act in the foreign exchange market if necessary. According to a statement, the annual meeting discussed the global and Swiss economic situation, inflation trends, and monetary policy challenges. The statement said: “In September, the SNB kept the policy interest rate at zero. If necessary, the central bank is also prepared to take action in the foreign exchange market to ensure an appropriate monetary environment.” SNB Governor Martin Schlegel and Central Bank Supervisory Committee Head Barbara Janom Steiner attended the meeting with the government. Officials also emphasized that Swiss inflation is at a low level by international standards. Despite some acceleration in recent months, it is still within the SNB's 0-2% target range.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.