Since we are still awaiting the results of the euro summit, and, having already made our own forecast of the outcome (see our last Weekly), we turn today to the strange case of the actions of a central bank with too much liquidity, and interest rates already at zero, viz, the Swiss National Bank. Switzerland’s problems are of course extremely unusual: the loss of confidence in both EUR and USD, and resulting flight into the CHF, pushed its exchange rate well above what is justified in terms of international trade competitiveness. |
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
