Euro to remain stable against Swiss franc
The Swiss franc is expected to gain very little in value against the euro during the next year, according to estimates by currency experts.
Europe’s single currency will probably hover in the next 12 months near the SFr 1.40 mark, some 50 analysts estimate in a survey published on Thursday by Reuters.
From the current level of SFr1.41, the euro is likely slip to SFr1.39 in six months before inching upward again to SFr1.40 by this time next year.
The Swiss National Bank (SNB) had intervened in the past and bought billions of euros to keep pressure off the franc. A strong franc makes Swiss exports more expensive. Lower sales could weigh the economy down just as it attempts a rebound.
Monetary policymakers have said they want to prevent an excessive appreciation of the franc against the euro, which has been beaten down by heavy debt in Greece and other weaker eurozone countries.
Economists say that against the backdrop of the ongoing economic recovery, the SNB’s policies carry a risk of inflationary trends and the building of a new bubble.
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