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SNB can keep FX cap for years: government official
The Swiss National Bank could hold its cap on the Swiss franc's value for years if necessary, a senior government official was quoted as saying on Monday, nearly a year after the bank set the barrier saying the euro crisis could trigger a Swiss recession. The central bank set the cap of 1.20 francs per euro last September after investors seeking a haven from the euro zone poured into the franc, sending the currency to record highs and ero ding the competitiveness of Sw iss exports and tourism. Asked by the Tages-Anzeiger newspaper how long the SNB would be able to maintain its cap on the euro, official Serge Gaillard ... (full story)
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