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SNB makes no change to euro-Swiss franc rate floor

FRANKFURT (MarketWatch)
Switzerland's central bank on Thursday left the minimum euro-Swiss franc unchanged at 1.20 Swiss francs and reiterated that it will "continue to enforce it with the utmost determination." The SNB said it remained committed to buying foreign currency in "unlimited quantitities" to defend the floor, which was imposed last year in order to halt the rise of the Swiss franc
Some economists had looked for the Swiss National Bank to hike the floor to around CHF1.22
"The Swiss franc is still high and is weighing on the Swiss economy," the SNB said in a statement
Posted by El Genio at jueves, septiembre 13, 2012

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