The Swiss National Bank has revealed that it is prepared to intervene
in the foreign exchange market after it stopped capping the Swiss
franc's value against the euro on 15 January.
Speaking to domestic press, the SNB's vice chairman also defended the central bank's move to abolish the three-year-old euro cap, as it would have cost 100m Swiss francs (£73m, €97m, $110m) to maintain.
"Giving up the cap means a tightening of monetary policy," said Jean-Pierre Danthine in an interview with Swiss national daily TagesAnzeiger.
"We accept this, but only up to a point. We are fundamentally prepared to intervene in the foreign exchange market."
Read more to Click Here / www.trade4x.net
Speaking to domestic press, the SNB's vice chairman also defended the central bank's move to abolish the three-year-old euro cap, as it would have cost 100m Swiss francs (£73m, €97m, $110m) to maintain.
"Giving up the cap means a tightening of monetary policy," said Jean-Pierre Danthine in an interview with Swiss national daily TagesAnzeiger.
"We accept this, but only up to a point. We are fundamentally prepared to intervene in the foreign exchange market."
Read more to Click Here / www.trade4x.net
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