Thursday , October 22 2020

SNB gets all clear from BIS on currency interventions

Bloomberg

Bank of International Settlements’ General Manager Agustin Carstens doesn’t consider the Swiss National Bank (SNB) to be a currency manipulator, according to an interview with Neue Zuercher Zeitung.
Carstens told the Swiss newspaper the SNB is merely responding to loose monetary policy worldwide and using the purchases as a defensive measure in light of the large global demand for francs.
“The SNB isn’t pursuing an exchange rate target,” he also said.
In the interview, Carstens also said that the recent bout of dollar weakness was not a sign of the greenback ceasing to be the dominant global
currency.

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