SNB will focus on Switzerland when deciding forex interventions - chairman
ZURICH, Nov 22 (Reuters) -The Swiss National Bank will focus on conditions in Switzerland when deciding whether to conduct foreign exchange purchases and sales, Chairman Martin Schlegel said on Friday, brushing off concerns the country could be labelled a currency manipulator.
"Our mandate is clear and is focussed on Switzerland," Schlegel said in a response to a question about how the SNB would react to changes in the United States following the election of Donald Trump as the next U.S. president.
"We will follow our mandate, that is what we will do in the future," he told an event in Zurich.
So far it was unclear what the incoming U.S. administration would do, Schlegel said, adding that he did not wish to comment on the politics of other countries.
In 2022 the U.S. Treasury found that Switzerland had exceeded all three thresholds for possible currency manipulation, including persistent forex purchases, although it refrained from branding the country as a manipulator.
Reporting by John Revill
Editing by Dave Graham
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