By Central Bank News (Guest Post)
The Swiss National Bank (SNB) announced it “will no longer tolerate a EUR/CHF exchange rate below the minimum rate of CHF 1.20”. The Swiss central bank further noted that it “will enforce this minimum rate with the utmost determination and is prepared to buy foreign currency in unlimited quantities”. The SNB explained “The current massive overvaluation of the Swiss franc poses an acute threat to the Swiss economy and carries the risk of a deflationary development.” and noted that it is “therefore aiming for a substantial and sustained weakening of the…
***This is a preview. Please click on the post title or go to http://www.econmatters.com for full content. ****
