SNB's Schlegel: Forex interventions support goal of achieving price stability

The Swiss National Bank (SNB) has recently been involved in foreign exchange (forex) interventions in order to support its goal of achieving price stability. According to SNB's Schlegel, these interventions are necessary in order to counteract the appreciation of the Swiss franc, which can have a negative impact on the Swiss economy.

Schlegel also emphasized that the SNB's interventions are in line with its mandate to ensure price stability, and that they are not aimed at manipulating the exchange rate for competitive purposes. Instead, the interventions are intended to prevent the franc from becoming overvalued, which could lead to deflation and other economic challenges.

Overall, the SNB's forex interventions are seen as a necessary tool for maintaining price stability and supporting the Swiss economy. By actively managing the exchange rate, the SNB hopes to mitigate the negative effects of a strong franc and ensure that inflation remains at a sustainable level.