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SNB's franc cap at right level for now: Swiss finance minister
The Swiss National Bank's franc cap is at the right level for now and the government has more drastic measures up its sleeve to counter the currency's strength although it hopes it will not have to use them, the finance minister told Reuters on Saturday. Introducing a cap at 1.20 francs per euro has restored calm and helped strengthen export markets, Eveline Widmer-Schlumpf said on the sidelines of a meeting of the Conservative Democratic Party (BDP) in Chur in the canton of Grisons. "We see it is a very good measure and the SNB has chosen the appropriate level. Setting the floor at 1.20 seems to be the right level ... (full story)
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