Swiss National Bank's Schlegel: Will continue to monitor situation and adjust policy if necessary
Swiss National Bank (SNB) Chairman Martin Schlegel is speaking at the press conference after the June monetary policy assessment, explaining the reasons behind leaving the interest rate unchanged at 0%.
Swiss National Bank (SNB) Chairman Martin Schlegel reaffirmed the bank's commitment to monitoring the situation and adjusting policy if necessary during a press conference following the June monetary policy assessment. Despite recent inflation in Switzerland, the central bank decided to keep interest rates unchanged at 0%. Schlegel explained that Switzerland's inflation has risen slightly due to higher oil prices and a weaker Swiss Franc, which is influenced by interest rate differentials with other currency areas.
While the bank anticipates a slight increase in medium-term inflation, it remains within its 0%-2% target range. Schlegel highlighted that the SNB is ready to intervene in the foreign exchange market as needed, but there is no specific direction at present. The bank's independence means that the size of its balance sheet is not a goal, but rather a result of its monetary policy.
Schlegel emphasized that Switzerland's situation is not isolated, and events abroad can impact the Swiss economy.
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