Re:Switzerland government raises investment funds to support...
by jevgeni on Wednesday July 05, 2017 @07:40AM
(#14701571)
There's a slight error there. SNB was buying foreign currency to lower the CHF exchange rate in an effort to protect the Swiss export industry.
Re:Switzerland government raises investment funds to support...
by 1wd on Wednesday July 05, 2017 @12:24PM
(#14703757)
Yes, sorry, I meant to write [not rise to].
Re:Switzerland government raises investment funds to support...
by siscia on Wednesday July 05, 2017 @07:27AM
(#14701516)
Yeah sorry... Still my point holds...
Re:Switzerland government raises investment funds to support...
by ponyfleisch on Wednesday July 05, 2017 @10:37AM
(#14702714)
> Yeah sorry... Still my point holds...
not really, no. the opposite, actually. while not an all time high, it is pretty high in the 10 year context and it did affect export industries.
Re:Switzerland government raises investment funds to support...
by siscia on Wednesday July 05, 2017 @10:44AM
(#14702757)
What industries where effected the most?
Re:Switzerland government raises investment funds to support...
by 1wd on Wednesday July 05, 2017 @12:37PM
(#14703892)
Mechanical and electrical engineering industries were seriously affected, according to Swissmem:
https://www.swissmem.ch/en/news-medien/news/mem-industrie-di...
According to Credit Suisse, "nearly all sectors of industry are affected", especially the Mechanical Engineering industry, but also Metals and Food Industries, Hotels, Catering and Retailing: https://www.credit-suisse.com/ch/en/articles/articles/news-a...
> [2011 to 2015] the Euro was exchanging [at] CHF1.20. [Then] the exchange rate stabilised to between CHF1.05 and CHF1.08 to the Euro, due in large part to further intervention from the SNB which discreetly set about buying up foreign currency to ensure the franc did [rise to] new heights
https://www.swissinfo.ch/eng/business/money--money--money_sw...