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SNB Chief Defends Currency Policy: “We Are Not Manipulators”

Published: 03-21-2025, 03:40 pm | Updated: 03-21-2025, 09:41 am

The Swiss National Bank (SNB) Chairman Martin Schlegel confirmed the bank will continue using foreign currency market interventions when necessary, while rejecting accusations of currency manipulation.

Schlegel explicitly stated “Switzerland is not a currency manipulator” while maintaining that the SNB would continue utilizing currency interventions as a legitimate monetary policy tool when needed.

He emphasized that past market interventions were conducted solely for monetary policy purposes, not to create unfair economic advantages for Switzerland.

Schlegel reaffirmed the bank’s commitment to using all available tools at its disposal to fulfill its mandate, suggesting no change in the SNB’s approach to currency management despite external criticism.

Original Source: Reuters

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