SNB President Martin Schlegel: «We Are Not Currency Manipulators»

At a performance in Lucerne, the President of the Central Bank commented on the consequences of the trade war, and he indicated why the SNB sold all its Chevron shares in the first quarter.

The President of the Swiss National Bank (SNB) stressed on Friday in Lucerne the "very great insecurity" caused by US tariffs. However, Martin Schlegel does not expect Switzerland to fall into recession.

For Martin Schlegel, President of the Swiss National Bank, the current element in the equity markets is uncertainty. There are two uncertainties: "First, what happens at all and second, how does it work?"