Swiss franc-euro: Sky-rocketing

Sky-rocketing – Patrick Chappatte
Le Temps (Geneva)

It was a false ceiling, anyways!

The Swiss National Bank decided on 15 January to scrap the 1,20 Swiss franc (CHF) for €1 minimum exchange rate introduced in September 2011, arguing that it was no longer justified and that “divergences between the monetary policies of the major currency areas have increased significantly.” The Swiss franc is now stabilised around 1 CHF for €1, as the Swiss stock exchange plummets and growth forecasts are now more pessimistic.