In a surprise move Swiss central bank abandons Euro peg: frank soars 30%

Friday, January 16th 2015 - 06:15 UTC

Full article 2 comments

The Swiss franc soared as much as 30% in chaotic trade after the central bank abandoned the cap on the currency's value against the Euro. The Swiss National Bank (SNB) said the cap, introduced in September 2011, was no longer justified. It also cut a key interest rate from -0.25% to -0.75%, raising the amount investors pay to hold Swiss deposits. Read full article

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Klingon
Damm, That guy needs a serious eyebrow wax!!
Jan 16th, 2015 - 07:58 pm - Link - Report abuse 0
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BOTINHO
Ultimately, I believe this will turn out to be a smart move in Switzerland's favour.
Jan 19th, 2015 - 06:30 am - Link - Report abuse 0
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