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Has Swiss National Bank adopted a secret currency peg?

Section: Daily Dispatches

By Matt Clinch
CNBC, New York
Monday, February 2, 2015

There is growing speculation that the Swiss National Bank has set a new target for the country's currency, as the Swiss franc continues to tick lower against the euro.

Swiss newspaper Schweiz am Sonntag reported Sunday that the SNB was aiming to keep the Swissie trading between 1.05-1.10 euros ($1.19-$1.24), citing sources with knowledge of the situation. It comes after the banks shocked markets by dropping its 3-year-old peg of 1.20 Swiss francs per euro on January 15. ...

New data today also fueled talk that the central bank could be intervening once again, revealing that the amount of cash that banks hold with the SNB rose again last week. These "sight deposits" can be used by the central bank to intervene with its own currency.

A spokesperson for the SNB told CNBC that the bank does not comment on media reports. ...

... For the remainder of the report:


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