The Swiss National Bank (SNB) held its benchmark interest rate at 0% for the third consecutive meeting, a decision unanimously predicted by economists. Policymakers, led by President Martin Schlegel, reaffirmed their commitment to sell the franc if its appreciation poses a risk to price stability. This stance was explicitly articulated, with Schlegel stating, "A rapid and excessive appreciation of the Swiss franc poses a risk to price stability. To counter this risk, our willingness to intervene in the foreign exchange market has increased." This language echoes a verbal intervention earlier this month, prompted by safe-haven flows into the franc after the US attack on Iran.
