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SNB's Maechler defends negative rates, currency interventions
Negative interest rates and a readiness to intervene in the foreign currency markets are still needed to ward off a rise in the franc that would trigger deflation in Switzerland, Swiss National Bank governor Andrea Maechler said on Tuesday. “Our mandate is not to defend the Swiss franc, but price stability,” Maechler told a Finanz’19 event in Zurich. “We are a small, open country, which means the exchange rate is important for our monetary conditions and is linked to prices. “We have seen that if the franc is too strong, inflation goes negative,” she added. “We are now in a positive [inflation] area, ... (full story)