Comments by SNB governing board member, Andrea Maechler
- Had we not intervened, the franc would have appreciated significantly more
- A stronger appreciation would have placed additional burden on economy
- Trade-weighted franc is 1.5% stronger than in June
Meanwhile, SNB chief Thomas Jordan is also out with some remarks:
- There is strong appreciation pressure on franc during times of uncertainty
- We have therefore made considerable FX purchases this year
- Economic momentum likely to be weak in Q4 2020, Q1 2021
A couple of token remarks in general by the SNB, which fits the stance that they have been adopting for majority of the year in dealing with the virus crisis in general.
