SNB draws line in the sand to weaken franc – Reuters | Wall Street

 

 

 

 

 

 

"With immediate effect, it will no longer tolerate a EUR/CHF exchange rate below the minimum rate of CHF 1.20. The SNB will enforce this minimum rate with the utmost determination and is prepared to buy foreign currency in unlimited quantities."

The SNB added that even at a rate of 1.20 francs to the euro, the franc was still high and should continue to weaken over time: "If the economic outlook and deflationary risks so require, the SNB will take further measures."

SNB draws line in the sand to weaken franc – Reuters | Wall Street