SWITZERLAND

摘要

The Swiss National Bank's sudden decision on January 15 to lift the currency cap against the euro threw the economy and financial markets into chaos. With foreign currency reserves soaring and ongoing downward pressure on the euro, the SNB insisted the cap was no longer sustainable. The resulting appreciation of the Swiss franc is expected to heavily damage the buoyant export sector which accounts for a significant portion of GDP. Firms and jobs are under threat and tourism may suffer.