Switzerland Welcomes Talks with US Treasury on Monetary Policy

Switzerland will continue to explain the country's economic situation and monetary policy to U.S. authorities, the Swiss National Bank said on Friday, after the country met two of the three criteria to be labeled a currency manipulator by the U.S. Treasury, but avoided being given the term.

"The SNB has taken note of the U.S. Treasury Department's latest report on the foreign exchange policies of major trading partners of the United States and its assessment of Switzerland," the central bank said in a statement.

"Together with the Swiss authorities, the SNB remains in contact with the US authorities to explain Switzerland’s economic situation and monetary policy. We welcome these ongoing discussions."