Bloomberg News

Schneider-Ammann Says He’d Like Franc at 1.35, 1.40

March 26, 2012

(Corrects to say franc should weaken in first paragraph.)

Swiss Economy Minister Johann Schneider-Ammann said he would “generally like” the franc to weaken toward 1.35 or 1.40 versus the euro, according to an interview with Swiss television.

“It would be fatal if the minimum exchange rate was suddenly removed,” Schneider-Ammann said, according to comments posted on Swiss television’s website today. He referred to the Swiss central bank’s franc cap of 1.20 versus the euro. Asked whether the ceiling should be raised, he said while the central bank is “independent,” the purchasing power parity “is higher” than 1.20.

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

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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