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Swiss National Bank has not reached limit of potential forex interventions - Maechler

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Swiss National Bank Governing Board member Maechler addresses Reuters Swiss Economic Meeting in Zurich
Swiss National Bank Governing Board member Maechler addresses Reuters Swiss Economic Meeting in Zurich

ZURICH (Reuters) - The Swiss National Bank has not reached the limit of its ability to buy foreign currency assets to weaken the Swiss franc despite its massive balance sheet, governing board member Andrea Maechler said on Thursday.

"We have always said we are willing to intervene strongly in the FX market...there is always a trade off and we need to be clear the benefits (outweigh) the costs," she told an event held remotely because of COVID-19 restrictions.

"We have not reached the limit yet," she added. "If the world goes in a wrong direction and we have very negative scenarios, we have a lot of (room) left."

(Reporting by John Revill; editing by Brenna Hughes Neghaiwi)