Reuters reporting on the SNB vice chairman in a newspaper interview published today (buy conducted last week prior to the Russian war on Ukraine):
- SNB will keep intervening in foreign exchange markets to ensure price stability
- "Switzerland has always had lower rates than others since the financial crisis. It is very important for us to keep this differential to avoid an excessive appreciation of the Swiss franc,"
- "As soon as the situation requires it, we'll raise our interest rate,"
- "We'll keep this ability to intervene in foreign exchange markets if needed to ensure price stability,"
- Zurbruegg adding the franc was a safe haven in times of crisis
- Asked whether the SNB was prepared to accept parity between the euro and the franc, Zurbruegg said the central bank was looking at a basket of currencies to judge the value of the franc and not just one currency pair.
