Central bank intervenes with euro exchange rate

The Swiss National Bank (SNB) set a minimum exchange rate target of SFr1.20 to the euro on the 6 September 2011 in a move aimed at the 'substantial and sustained weakening' of the franc.

• Primary Source

Swissinfo.ch, 6.9.11: SNB toughens stance with euro rate target http://www.swissinfo.ch/eng/specials/swiss_franc/SNB_toughens_stance_with_euro_rate_target.html?cid=31070180

PressEurop, 7.9.11: Switzerland: “Welcome to the eurozone” http://www.presseurop.eu/en/content/press-review/923571-switzerland-welcome-eurozone

ESO: Background information: SNB action fails to stem Swiss franc’s rise http://www.europeansources.info/record/snb-action-fails-to-stem-swiss-francs-rise/

ECB: Press Release, 6.9.11: Statement of the Governing Council of the ECB on the decision of the Swiss National Bank http://www.ecb.int/press/pr/date/2011/html/pr110906.en.html

SNB: Press Release, 6.9.11: Swiss National Bank sets minimum exchange rate at CHF 1.20 per euro http://www.snb.ch/en/mmr/reference/pre_20110906/source/pre_20110906.en.pdf

BBC News, 6.9.11: Swiss National Bank acts to weaken strong franc http://www.bbc.co.uk/news/business-14801324

Deutsche Welle, 6.9.11: Swiss National Bank weakens franc with euro peg http://www.dw-world.de/dw/article/0,,15366989,00.html

Swissinfo.ch: Strong Franc - Cause and effects http://www.swissinfo.ch/eng/specials/swiss_franc/index.html?cid=28856262

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