SNB's Danthine: Still prepared to intervene in Swiss Franc

FXStreet (Bali) - Jean-Pierre Danthine, Vice Chairman of the Governing Board of the Swiss National Bank, in an interview with Tages-Anzeiger, said that SNB is still prepared to intervene in FX market.

"Giving up the cap means a tightening of monetary policy. We accept this, but only up to a point. We are fundamentally prepared to intervene in the foreign exchange market," Jean-Pierre Danthine told Swiss national daily TagesAnzeiger in an interview, Reuters reports.

"Theoretically, the balance sheet can grow endlessly, however, in this situation the SNB could - in an extreme case - be forced to bring more francs to the market than monetarily responsible", Danthine added.