"The National Bank can always contemplate a minimum exchange rate, but I don't think that it is currently the right time for that," outgoing Swiss Finance Minister Eveline Widmer-Schlumpf told the Bündner Tagblatt in an interview.
"Though it is, and remains the task of the national bank to decide on that," she continued.
Finanzministerin Widmer-Schlumpf: Absage an neuen Euro-Mindestkurs https://t.co/FBaNSSmsjr pic.twitter.com/p78IqMQfJc
— AargauerZeitung (@AargauerZeitung) 23 декабря 2015
Finance Minister Widmer-Schlumpf: Refusal of a new Euro Minimum Exchange Rate
The Swiss National Bank caused panic on currency markets in January when it ditched its minimum exchange rate with the Euro, which since 2011 had maintained a ceiling on the value of the Swiss franc, a maximum of 1.20 for one Euro.
The Swiss stock market plunged by more than ten percent immediately after the announcement, and the franc rose by almost 30 percent against the Euro, bankrupting many Forex traders in the process.
However, despite the initial panic, without the euro cap the franc has proved less strong than feared; on Friday, one Euro could buy 1.08 Swiss francs.
