Swiss National Bank Eases

Swiss Central Bank to Wage War Against Strong Franc

August 3, 2011

In 37 years as a central banker, I cannot recall more strident language in a central bank statement than what the Swiss National Bank released today. The franc is called “massively overvalued at present.” Officials “will not tolerate” a continual tightening of monetary conditions caused by the rising franc. They promise to “significantly increase the […] More