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The Swiss National Bank maintains its target range for three-month Libor at 0-0.25%. Maintains...

The Swiss National Bank maintains its target range for three-month Libor at 0-0.25%. Maintains its euro/franc ceiling at 1.20 and "will enforce it with the utmost determination. It remains prepared to buy foreign currency in unlimited quantities for this purpose. Even at the current rate, the Swiss franc is still high." (.pdf)
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Comments (4)
  • jimmyben
    , contributor
    Comment (1) | Send Message
     
    Does anyone still expect them to raise the floor now?
    14 Jun 2012, 03:59 AM Reply Like
  • winningtrader
    , contributor
    Comments (2476) | Send Message
     
    I don't think they can do it but who knows ... they are crazy and stupid enough. I doubt that the Eurozone would support that type of total manipulation.
    14 Jun 2012, 05:10 AM Reply Like
  • remurraymd
    , contributor
    Comments (2287) | Send Message
     
    From personal experience they will hold the line
    They are men of their word and their word is golden
    No one has ever broken them they have the most gold
    and deepest pockets and are the fortress banks of the world.
    14 Jun 2012, 06:28 AM Reply Like
  • tavern123
    , contributor
    Comments (32) | Send Message
     
    The economic policy of Switzerland is ambivalent:
    On one hand they want a weak CHF to promote exports
    (Switzerland is a transformation /service economy - that imports raw materials, adds labor, and exports finished products.) The low swiss franc rate helps promote exports and tourism in competition to other EU producton.
    On the other hand, Switzerland, constitutionally ,support cartels
    (Autoimportverband/ Bucherimportverband) that makes Swiss retail prices for cars, books, and whatever else more expensive.
    This cannot go on forever.
    14 Jun 2012, 08:53 AM Reply Like
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