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Swiss National Bank Still Ready to Intervene in Forex Market, Says It's No Currency Manipulator

Published by Global Banking & Finance Review®

Posted on March 20, 2025

1 min read

Last updated: January 24, 2026

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Swiss National Bank still ready to intervene in forex market, says it's no currency manipulator - Finance news and analysis from Global Banking & Finance Review

Quick Summary

The Swiss National Bank is prepared to intervene in the forex market but denies being a currency manipulator, focusing on monetary policy.

Swiss National Bank Ready for Forex Market Interventions

ZURICH (Reuters) - The Swiss National Bank will continue to use foreign currency market interventions if necessary, Chairman Martin Schlegel said on Thursday, adding the central bank was not a currency manipulator.

The SNB had not used currency interventions to gain a competitive advantage for the Swiss economy in the past and would use the tool again if needed to steer monetary policy, Schlegel told a press conference after the SNB's latest interest rates decision.

"Switzerland is not a currency manipulator," Schlegel told reporters. "We will use all our tools that we have at hand."

(Reporting by John Revill, editing by Ariane Luthi)

Key Takeaways

•The Swiss National Bank may intervene in the forex market if needed.
•Chairman Martin Schlegel states SNB is not a currency manipulator.
•Interventions are not used for competitive advantage.
•SNB's actions are part of steering monetary policy.
•The bank remains committed to using all available tools.

Frequently Asked Questions about Swiss National Bank still ready to intervene in forex market, says it's no currency manipulator

1What is the main topic?

The main topic is the Swiss National Bank's readiness to intervene in the forex market and its stance on currency manipulation.

2Why does the SNB intervene in the forex market?

The SNB intervenes to steer monetary policy and not to gain a competitive advantage for the Swiss economy.

3Is Switzerland considered a currency manipulator?

According to Chairman Martin Schlegel, Switzerland is not a currency manipulator.

Swiss National Bank Ready for Forex Market Interventions

"Switzerland is not a currency manipulator," Schlegel told reporters. "We will use all our tools that we have at hand."

(Reporting by John Revill, editing by Ariane Luthi)

Key Takeaways

•The Swiss National Bank may intervene in the forex market if needed.

•Chairman Martin Schlegel states SNB is not a currency manipulator.

•Interventions are not used for competitive advantage.

•SNB's actions are part of steering monetary policy.

•The bank remains committed to using all available tools.

Frequently Asked Questions

1What is the main topic?

The main topic is the Swiss National Bank's readiness to intervene in the forex market and its stance on currency manipulation.

2Why does the SNB intervene in the forex market?

The SNB intervenes to steer monetary policy and not to gain a competitive advantage for the Swiss economy.

3Is Switzerland considered a currency manipulator?

According to Chairman Martin Schlegel, Switzerland is not a currency manipulator.