Bloomberg with the story quoting from an article in today's Schweiz am Sonntag
The president of Grisons mountain railways, Sylvia Schmid, said:
"We've grown convinced that there needs to be a cap of 1.15 francs per euro"
Not a major lobby given that tourism contributes less than 3% to Swiss GDP but the idea may catch on
The article also reports comments from a banking executive saying the industry is worried that the SNB will further lower depo rate from -0.75% currently, which could mean the charge gets passed to savers
The article also cites an unidentified former SNB governing board member as saying he's afraid that president Jordan could be pushed out of office
EURCHF Friday saw some SNB more intervention to weaken the franc ahead of the ECB meeting next Thursday suggesting they fear/know some bearish euro measures coming. USDCHF and EURCHF were pushed through 1.0320 and 1.0925 in a rush.
Last week I reported comments from Jordan saying that negative interest rates "have proved very useful" and stating that the SNB balance sheet shows they have been active in the market as I have often pointed out on these pages
Thomas Jordan - Are his days as SNB president numbered?
