SNB's Maechler: Strong CHF to help us on inflation

Swiss National Bank (SNB) Board Member Andrea Maechler said on Wednesday that the deterioration in consumer climate could weigh on the Swiss economy, as reported by Reuters.

Maechler further noted that the strong Swiss franc will help Switzerland on the inflation front. "Even if market interest rates rise, we remain in an accommodative financial environment," she added.

Market reaction

The USD/CHF pair showed no immediate reaction to these remarks and was last seen trading at 0.9810, where it was up 0.2% on a daily basis.