Swiss central bank officials say currency market interventions will be conducted when necessary, but interest rates remain the primary tool.

A Swiss National Bank official said that the country will not shy away from intervening in the foreign exchange market when necessary, but interest rates remain a key tool. "Interest rates are our main tool for implementing monetary policy," said Petra Tschudin, a member of the Swiss National Bank's governing board, on Thursday. "For a long time, we have been intervening when necessary. I always emphasize that if the situation requires it, we are ready to use this tool at any time." Tschudin made these comments at a time when Switzerland is receiving heightened attention. So far this year, the Swiss Franc has appreciated by about 13% against the US dollar and over 1% against the Euro. Last week, the Swiss Franc reached a near-decade high against the Euro.