ZURICH (Reuters) – The Swiss National Bank will continue to use foreign currency market interventions if necessary, Chairman Martin Schlegel said on Thursday, adding the central bank was not a currency manipulator.
The SNB had not used currency interventions to gain a competitive advantage for the Swiss economy in the past and would use the tool again if needed to steer monetary policy, Schlegel told a press conference after the SNB’s latest interest rates decision.
“Switzerland is not a currency manipulator,” Schlegel told reporters. “We will use all our tools that we have at hand.”
(Reporting by John Revill, editing by Ariane Luthi)
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