The Swiss Central Bank’s Move
As the 2008 financial crises developed, international traders sought the safety of the Swiss franc. This flight to safety intensified as the Greek financial crisis took center stage in 2009. It resulted in the value of the Swiss franc soaring against the euro (and to a lesser degree against other currencies). This franc strength was a great boon to Swiss consumers, as it became cheaper and cheaper to buy products from other European countries. It, however, had the opposite effect for Swiss manufacturers that exported their products. The products became much more expensive for consumers in other countries that used … Continue reading →