While you were sleeping: Swiss central bank shock

Thu, 15 Jan 2015

By Margreet Dietz Jan. 16 (BusinessDesk) - Swiss equities plunged after a surprise decision by the Swiss National Bank to abandon its effort to check the continuing appreciation of the franc against the euro, days after recommitting to the currency’s defence. The Swiss Market Index plunged 8.7 percent after the SNB ended a three-year policy that was aimed at safeguarding the country from the effects of the euro-zone government debt crisis, and the resulting flight to safety into the Swiss franc. Whenever the Swiss franc approached 1.20 pe...

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