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Swiss central bank defends franc move despite turbulence
Switzerland's central bank on Saturday defended its shock decision to let the franc soar, insisting that the subsequent turbulence rocking global markets and the Swiss economy since the move would eventually subside. "This was not an easy decision... (but) we are convinced it is the right one," Swiss central bank chief Thomas Jordan said in an interview published in Swiss dailies Le Temps and NZZ on Saturday. The head of the Swiss National Bank (SNB) has faced widespread criticism both at home and abroad after the bank's bombshell announcement Thursday that it was abandoning the minimum rate of 1.20 francs against ... (full story)
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