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SNB's Schlegel says important forex market understands increased readiness to intervene

BY Reuters | ECONOMIC | 05:34 AM EDT

ZURICH, March 19 (Reuters) - The Swiss National Bank has increased its readiness to intervene in currency markets to dampen raised demand for the Swiss franc, Chairman Martin Schlegel said on Thursday, although he declined to indicate the scale of purchases the central bank could carry out this year.

"It's very important that the market understands our approach with interventions, and our approach is that we now have increased readiness to intervene in the forex markets," said Schlegel, referring to the risk of a rapid and excessive rise of the currency. (Reporting by John Revill, editing by Ariane Luthi)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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