Swissmem Chief Sees More Pressure on Franc, SonntagsZeitung Says

The Swissmem industry group head Hans Hess said pressure on the franc to appreciate grew after the election results in Greece and France, SonntagsZeitung reported.

Hess told the newspaper in an interview that he’s convinced the Swiss central bank will be able to defend the currency ceiling of 1.20 versus the euro. The central bank should use “tactical and communication measures” to further weaken the franc, he was cited as saying.

Swissmem is based in Zurich and represents the country’s manufacturers of machinery and electronics as well as metal processing companies.

To contact the reporter on this story: Elena Logutenkova in Zurich at elogutenkova@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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