Bloomberg News

Swiss Parties Support SNB Measures to Curb Franc Appreciation

September 02, 2011

Sept. 2 (Bloomberg) -- The Swiss government said all five ruling-coalition parties support measures taken by the central bank to weaken the franc and protect the economy.

At a meeting in Bern today, government members and all party leaders welcomed the Swiss National Bank’s measures, according to an e-mailed statement. Economy Minister Johann Schneider-Ammann informed participants about the economic situation, calling the exchange rate volatile.

The SNB last month boosted liquidity to the money market and lowered borrowing costs to zero to fight the currency’s ascent, which is hurting exports and economic growth.

To contact the reporter on this story: Simone Meier in Zurich at smeier@bloomberg.net

To contact the editor responsible for this story: Matthias Wabl at mwabl@bloomberg.net


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