Pursuits
Hildebrand Says SNB Can Take More Measures as Cap Kept on Franc
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Swiss central bank President Philipp Hildebrand said he’s ready to act if deflation risks emerge after officials maintained their limit on the franc, resisting pressure from exporters to further curb its strength.
The currency rose as the Swiss National Bank left the franc’s minimum exchange rate at 1.20 per euro today. That’s in line with the forecasts of nine out of 13 economists in a Bloomberg News survey. The Zurich-based central bank also maintained its benchmark interest rate at zero.