Switzerland lifts the value of the franc by the euro. Earthquake in … – The Press

Switzerland lifts the value of the franc by the euro. Earthquake in … – The Press

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Switzerland lifts the value of the franc by the euro. Earthquake in the stock market, the single currency is at its lowest

The decision of the Central Bank displaces markets. Zurich loses more than 10%

15/01/2015

SENT TO BERLIN

An unexpected move but not unpredictable . The Swiss Central Bank has canceled the fixed exchange that from September of 2011 – in the warm months of the euro crisis – had tried to ward off an excessive strengthening of the franc and that for three years kept him nailed to 1.20 against the euro. The problem is that the central bank even two months ago had assured the markets that would defend “with absolute determination” the minimum threshold determined apex dell’eurocrisi, when it began a race to purchases of Swiss franc. The bank has also decided this morning a further cut in interest rates to 0.75%. The result was an earthquake on the stock market with Zurich that came to lose more than 10%.

WHAT’S ‘BEHIND THE ABOLITION OF THE ROOF

In essence, the cost for the Swiss to prevent an excessive appreciation of the Franco, in view of the “quantitative easing” of the ECB, but also in light of the escape of many capitals affected by Russian-Ukrainian crisis to the federal government, is considered, now and in the future, too. The Central Bank has preferred to risk leaving the franc rein, because after the weakening in recent months, no longer considers entirely negative appreciation. But also to prevent the threshold jump to the pressures of the market.

THE FRANCO FLIES, THE MINIMUM EURO

The surprise decision has shocked the markets: the franc has jumped in moments of 27%, to 0.86 against the euro, before recovering, after a remarkable swing, above the threshold of a euro. Strengthening against the dollar pushed the Swiss franc at 0.75 per share and then fall back to 0.89. The problem, says the press this morning Monetary Institute, is that the circumstances “exceptional and temporary” that had led to the decision of the autumn of 2011, of course, there are more. Pitfalls, however, there are.

THE STRATEGY AND FED ECB

The divergent trajectories of the most influential central banks – the Fed is going towards a rate hike interest while the ECB will remain long at current lows and is preparing to quantitative easing – have led in recent months a sharp weakening of the euro that has dragged with it the Swiss franc. “In these circumstances,” says the bank, keep the roof “is no longer justified.”

THE TREND OF SQUARE BUSINESS

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