Swiss National Bank Tells Government It Is Ready to Act in FX Market if Needed

Swiss National Bank officials told the government on Wednesday that the bank was prepared to act in foreign exchange markets if necessary. According to Sina Finance, the annual meeting covered global and Swiss economic conditions, inflation trends, and monetary-policy challenges; the bank said it kept its policy rate at zero in September and was ready to act in foreign exchange markets to ensure appropriate monetary conditions. SNB President Martin Schlegel and supervisory committee head Barbara Janom Steiner attended. Officials said Swiss inflation remained low by international standards and within the bank’s 0%-2% target range despite accelerating in recent months.