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Swiss Defy U.S. With Pledge to Keep Up Currency Intervention

  • SNB says policy is an important monetary-policy tool
  • U.S. Treasury labeled Switzerland a ‘currency manipulator’
The Swiss National Bank Presents New 100 Swiss Franc Banknote
Photographer: Stefan Wermuth/Bloomberg
Updated on

The Swiss National Bank pledged to push ahead with interventions to rein in the franc, defying a U.S. decision to designate the nation a currency manipulator.

The central bank said it doesn’t engage in “any form” of currency manipulation, and its actions are aimed at helping it ensure price stability. A spokesman for the Swiss Finance Ministry made comments to the same effect.