Swiss National Bank tells government it is prepared to act in foreign exchange market if necessary

Swiss National Bank officials said at a meeting with the government on Wednesday that the bank is prepared to act in the foreign exchange market if necessary. According to a statement, the annual meeting discussed global and Swiss economic conditions, inflation trends, and the challenges facing monetary policy. The statement said: "In September, the Swiss National Bank kept its policy rate at zero. If necessary, the central bank is also prepared to act in the foreign exchange market to ensure an appropriate monetary environment." SNB Chairman Martin Schlegel and Barbara Janom Steiner, head of the central bank's supervisory board, attended the meeting with the government. Officials also emphasized that Swiss inflation is low by international standards. Although it has accelerated in recent months, it remains within the SNB's 0-2% target range.