Economics
SNB Breathes Easy as Franc Drop Rebuts Critics on Two Fronts
- Franc fell to lowest in 20 months versus euro last week
- SNB had been criticized as too complacent on weak inflation
Thomas Jordan
Photographer: Michele LiminaThis article is for subscribers only.
For Swiss National Bank President Thomas Jordan, the franc’s precipitous drop to a 20-month low against the euro has come at a helpful moment after an open season for attacks on his policies.
Just over two weeks ago, his institution endured one of the most stinging critiques of its monetary regime in recent years, as a trio of prominent economists accused officials of not trying hard enough to stoke inflation.