President of the Swiss National Bank: No Specific Exchange Rate Target Set, Willingness to Intervene in Forex Market Increases

Golden Ten Data, June 2 – Swiss National Bank President Schlegel stated that the bank has not set a specific exchange rate target. He reiterated the central bank's position that its willingness to intervene in the Swiss franc exchange rate has increased. He said: "The Swiss National Bank ensures an appropriate monetary environment by setting the central bank policy rate and, when necessary, will take other measures such as intervening in the foreign exchange market. But the Swiss National Bank does not pursue an exchange rate target. Due to the worsening situation in the Middle East, the Swiss franc is facing appreciation pressure, which has increased the central bank's willingness to intervene in the foreign exchange market."