The Swiss National Bank (SNB), together with the Swiss Finance Ministry and the U.S. Treasury, confirmed that Switzerland does not target exchange rates for competitive advantage.
- Forex interventions are used solely as a monetary policy tool to maintain appropriate conditions and ensure price stability.
- SNB has consistently denied currency manipulation accusations, following U.S. monitoring in June.
- Recent franc stability against the euro indicates no significant market intervention, according to UBS economist Maxime Botteron.
- SNB Chairman Martin Schlegel emphasized the focus remains on inflation targets, not trade competitiveness.