SNB Not Pursuing ‘Beggar-Thy-Neighbor’ Policy, Roth Tells FT

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Looks like he’s been reading my blog.

It is a beggar thy neighbor policy, by definition.

SNB Not Pursuing ‘Beggar-Thy-Neighbor’ Policy, Roth Tells FT

by Simone Meier

Mar 17 (Bloomberg) — Swiss central bank President Jean- Pierre Roth said the bank is ready to stem further gains in the Swiss currency if needed, the Financial Times reported.

“We have clearly shown what our commitment is and the market has reacted accordingly,” Roth said, according to the FT. “We have a clear strategy.”

Roth said Switzerland “would be foolish, as a small and open economy, to try to gain competitiveness through the currency.” He said that it’s “not a beggar-thy-neighbor policy. It’s just to protect the Swiss economy from deflation.”