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SNB's Schlegel still ready to intervene in forex markets despite U.S. list
From globalbankingandfinance.com
The Swiss National Bank is ready to intervene in foreign currency markets to hit its inflation target, Chairman Martin Schlegel said, despite Switzerland recently being added to a U.S. watch list on currency manipulation. The SNB, which cut its key interest rate to zero on Thursday, uses interest rates to steer inflation to its 0-2% target, Schlegel told broadcaster SRF. "We're also ready to be active on the currency markets," Schlegel said in the interview broadcast on Saturday. The U.S. Treasury this month put Switzerland on a list of countries being monitored for unfair currency and trade practices. Bern is seeking ... (full story)
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