In the post meeting press conference, SNB Chairman Thomas Jordan said that this year’s 4% appreciation in Swiss Franc exchange rate “has helped ensure that less inflation has been imported from abroad, thus curbing the rise in inflation.”
He said that the central bank sold “foreign currency in recent months” to ensure appropriate monetary conditions. He added, “We will also sell foreign currency in the future if this is appropriate from the monetary policy perspective. Conversely, we remain willing to buy foreign currency again if necessary, i.e. if there were to be excessive appreciation pressure.”
