SNB’s Zurbruegg says Swiss monetary policy suited for FX fragility

ZURICH (Reuters) – The Swiss National Bank’s current accommodative monetary policy is suited for the fragility being seen on foreign exchange markets, SNB Vice Chairman Fritz Zurbruegg said on Thursday.

“We see that the foreign exchange markets are fragile, we said this clearly at the last review of the situation,” he told reporters on the sidelines of a news conference on cash use in Switzerland.

“We are convinced that our monetary policy stance of negative interest rates with the readiness to intervene on currency markets takes account of this fragility.”

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