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SNB to stick “decidedly” to FX policy

By   || July 10, 2009 at 05:38 GMT
|| 3 comments || Add comment

SNB Chairman Jean-Pierre Roth, in an interview with Handelsblatt,  has said “We do not want a further appreciation of the swiss franc, because we must prevent deflation.”

When asked what the SNB would do if the upward pressure on the franc persisted, Roth said “We stick to our policy, decidedly.”

Roth also said the bank does not give fx targets, but noted that the franc hasn’t risen further.

EUR/CHF is very marginally firmer in early European trade, presently at 1.5135.

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Category: All, Central Banks, Economy, Europe, Mkt Talk, Regions
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3 Responses to “SNB to stick “decidedly” to FX policy”

  1. DC on July 10th, 2009 07:29 GMT

    “Roth also said the bank does not give fx targets, but noted that the franc hasn’t risen further.”

    Love to know what currency hes been watching because the rest of us have seen it go from 1.5450 to 1.5100 more or less. Still hopefully his comments cause it to continue up today and ill just jump out at B/E. Sick to death of waiting any longer.

  2. saferanger on July 10th, 2009 10:51 GMT

    @DC – Glad its looking a bit better today 4 ya!

  3. saferanger on July 16th, 2009 12:54 GMT

    Mh…getting close to first possible intervention base in USD/CHF, possibly at 1.0700 ?

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