SNB Rejects Franc Target, Keeps 0% Rate and FX Intervention Option

2 articles · Updated · Bloomberg · Jun 2

Martin Schlegel said the Swiss National Bank does not pursue a specific franc exchange-rate target, even as it remains ready to step into currency markets when needed.
The SNB said it seeks appropriate monetary conditions through its policy rate and, when necessary, other measures including foreign-exchange intervention.
Schlegel’s remarks reaffirm the central bank’s stance that exchange-rate moves matter for Swiss monetary conditions, but are not managed against a fixed franc level.

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