Swiss central bank will struggle to break its interventionist habit

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Financial Times 15h ago

Swiss central bank will struggle to break its interventionist habit - Financial Times

Quick Summary:

Perhaps spooked by the prospect of tying their fortunes to the European Central Bank as it embarked on quantitative easing, they abandoned the floor with chaotic results.

Current account surpluses are associated with currency strength unless residents recycle them into foreign assets.

Unlike developed market peers, it did so by selling freshly created electronic money into foreign exchange markets and investing the proceeds in global stocks and bonds.