Industry Group Tells SonntagsZeitung Franc Cap Raise Unlikely

Swiss industry group Swissmem doesn’t believe the Swiss National Bank will raise the Swiss franc’s cap further against the euro, SonntagsZeitung reported, citing Hans Hess, the group’s president.

Raising the limit to 1.30 is a “highly unlikely scenario,” the newspaper cited Hess as saying.

To contact the reporter on this story: Dermot Doherty in Geneva at ddoherty9@bloomberg.net

To contact the editor responsible for this story: Sara Marley at smarley1@bloomberg.net