SNB's Macheler says move away from Libor not to impact SNB policy

ZURICH: Swiss National Bank Board Member Andrea Maechler said on Thursday a move away from the Swiss franc Libor would have no impact on the central bank's monetary policy stance and any adjustments needed would be announced in due course.

"Given its significance, the shift away from Libor poses major challenges for financial market participants," Maechler said, according to the text of a speech she is due to give at the SNB's latest monetary policy assessment.

She said market participants should be prepared for a possible discontinuation of the Libor benchmark from 2021.