SNB Counts Cost of Franc Cap as Stakes Rise for Jordan

The Swiss central bank is counting the cost of its franc policy as President Thomas Jordan’s struggle to keep investors at bay pushes reserves to a record and forces officials to contemplate further measures.

With Europe’s debt crisis intensifying pressure on the Swiss National Bank’s 1.20 per euro ceiling after a breach in April, officials will tomorrow reaffirm their commitment to defend the limit. The central bank’s foreign-currency reserves surged in May, indicating policy makers stepped up euro purchases to stave off attacks spurred by the turmoil.