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Five Charts Show Switzerland's Policy Pickle If ECB Acts
Thomas Jordan will be keeping a watchful eye on the goings-on in Frankfurt this week. If the European Central Bank cuts its deposit rate as part of Mario Draghi’s new stimulus push and the euro weakens, the Swiss National Bank president might have to respond to keep the franc in check. While the SNB’s next scheduled announcement isn’t due until Dec. 10, there’s nothing to stop it moving before then. Jordan has surprised markets before -- who can forget the bombshell announcement scrapping the currency cap at the start of the year? One problem for Swiss policy makers is there aren’t many appealing options ... (full story)