2024-09-02 12:57:52 +0300

Swiss Franc No Longer a Sure Bet as ECB Contemplates Jumbo Hike

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Bloomberg
By Mumbi Gitau

The Swiss National Bank has the one thing that most central banks are desperate for right now as they battle inflation: a strong currency. That advantage is waning as the European Central Bank considers a jumbo rate hike next week.

The Swiss franc has been on a tear against the euro this summer, gaining more than 7% from the beginning of June to mid-August, as rampant price increases and rising odds of a recession in the euro-area drove investors to one of the world’s most popular currency havens.

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