Davos Signals Confidence in Franc Cap as SNB Seeks New Chief
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Delegates at the World Economic Forum signalled confidence that the Swiss National Bank will keep up its defence of the franc’s ceiling as the bank looks for a new chief after Philipp Hildebrand’s surprise resignation.
“The SNB is a very stable institution,” Swiss President Eveline Widmer-Schlumpf told reporters after meetings with world leaders in the Swiss Alpine resort. Patrick Odier, head of the Swiss Bankers Association, said in an interview he’s “confident in the existing structure” of the SNB.