Swiss National Bank Vice Chairman Fritz Zurbruegg says will intervene in FX if needed

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 Foreign Exchange Foreign exchange (forex) represents the practice of exchanging or converting a specific country’s currency into another country’s currency. A popular example includes the conversion of the Australian dollar (AUD) into US dollars (USD), and/or vice versa. There are a variety of mediums this can occur over. In its most basic form, the exchange of currencies can be handled over a physical counter, such as in an airport or currency exchange.This can also take place over the internet through the use Foreign exchange (forex) represents the practice of exchanging or converting a specific country’s currency into another country’s currency. A popular example includes the conversion of the Australian dollar (AUD) into US dollars (USD), and/or vice versa. There are a variety of mediums this can occur over. In its most basic form, the exchange of currencies can be handled over a physical counter, such as in an airport or currency exchange.This can also take place over the internet through the use Read this Term 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.