– “The Swiss franc will remain supported against the euro”
The SNB is expected to cut interest rates again next week, according to Samy Chaar, chief economist at Lombard Odier bank. This should not cause the Swiss currency to decline.
Published today at 1:45 p.m.
Samy Chaar, chief economist at Lombard Odier, believes that political uncertainties in Europe, particularly linked to the upcoming elections in France, are moderating the appetite of international investors to hold assets in euros.
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The franc has just recovered strongly against the euro. After flirting with parity, the European currency plunged to 0.95 francs after the European Central Bank (ECB) reduced interest rates in early June to support the economy. In March, the Swiss National Bank (SNB) was the first of the major central banks to reduce them. Investments in bonds and other Swiss monetary papers are once again gaining in attractiveness. The following? Update with Samy Chaar, chief economist at Lombard Odier.
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