SNB Gauges Bubble Risks as Euro Crisis Danger Recedes
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Swiss National Bank officials are counting the cost of their zero interest-rate policy.
After more than two years of targeting three-month Libor between zero and 0.25 percent, coupled with a currency ceiling to keep the euro region’s debt crisis at bay, President Thomas Jordan and his colleagues are increasingly focused on the domestic fallout. The Swiss property market, fueled by cheap mortgages, is experiencing its biggest boom in two decades.