SNB’s Zurbruegg Says Franc Celing Is an Extreme Measure
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Swiss National Bank Governing Board member Fritz Zurbruegg said the franc ceiling is an extreme measure that carries “considerable” risks.
“The minimum exchange rate has met with the support of the general public and the political domain,” Zurbruegg said in Lucerne, Switzerland, late yesterday. “However, it should be regarded as an extreme measure. It is not a panacea for all the problems facing the Swiss economy, and carries considerable risks.”