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2025-10-31 08:46:21
[Swiss National Bank: Will Not Shy Off Intervening in Foreign Exchange Market When Necessary] 1. Petra Tschudin, a member of the Swiss National Bank's Governing Council, said on Thursday that although interest rates remain the primary tool for implementing monetary policy, the bank will not shy away from intervening in the foreign exchange market when necessary. She emphasized, "We have been intervening when necessary for a long time. We are ready to use this tool if the situation requires it." 2. This statement comes amid heightened market attention to the continued strength of the Swiss franc. So far this year, the Swiss franc has appreciated by about 13% against the US dollar and more than 1% against the euro. Last week, the Swiss franc's exchange rate against the euro approached its highest level in a decade, prompting central bank officials to send a clear signal that they are closely monitoring foreign exchange market developments and retain the option of intervention.
