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Swiss National Bank, Everyone Else Not On The Same Page Re: Definition Of ‘Weak’

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Doesn't look strong to him.

The Swiss National Bank is ready and willing to keep the franc weak. Which it apparently still thinks it is, 30% appreciation notwithstanding. Which may come as quite a surprise to those of you who lost all of that money two weeks ago, or who had to pay an extra 30% for drinks at Davos, when the bank did that thing that seemed to do the opposite of keeping the franc weak.

The Swiss franc fell on Tuesday after a senior official at the Swiss National Bank was quoted as saying the central bank was still prepared to intervene to keep the currency relatively weak….

The central bank accepted that the dropping of the cap on the franc against the euro represented a tightening of policy, but it remains ready to intervene in the currency market, SNB Vice President Jean-Pierre Danthine told Swiss newspaper TagesAnzeiger in an interview.

SNB Still Prepared to Intervene to Keep Swiss Franc Weak, Official Says [WSJ]


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