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Europe

SNB Wins Respite as Franc Ceiling Outlives Hildebrand Era

Swiss central bank interim chairman Thomas Jordan will tomorrow bid to prolong the success of his predecessor’s currency policy as the economy shows signs of regaining strength.

 

Jordan, in his first decision as chief, will maintain the ceiling of 1.20 francs per euro, according to all 14 economists in a Bloomberg News survey. That level hasn’t been breached in the six months since its creation. The Swiss National Bank, which will announce its decision at 9:30 a.m. in Zurich, will also keep borrowing costs at zero, a separate survey shows. Full story