SNB’s Danthine Says Rate Increase Would Mean End of Cap

The Swiss National Bank will abolish its franc ceiling once it starts raising interest rates, Vice President Jean-Pierre Danthine said.

“The day the SNB decides to raise rates, there can no longer be a restricting minimum exchange rate,” Danthine said in an interview published today in Le Matin Dimanche and SonntagsZeitung newspapers. “Today the absolute priority is the cap, which we will keep in place as long as necessary.”