The Swiss National Bank should not be complacent. Its policy of capping the rise of the Swiss franc against the euro will more than likely come under attack now that its chairman, Philipp Hildebrand, has resigned. Not only will investors want proof that Hildebrand's temporary successor, Thomas Jordan, is as keen to defend the policy as he was, but they will also want confirmation that the policy still holds with the euro so weak. Hildebrand's resignation in a scandal arising from a currency trade could not have come at a worse time. With the Swiss economy slowing and the risks of deflation rising, the central bank is ... (full story)