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Franc Tsunami
World Economy

Franc Tsunami

Thomas Jordan is about to reveal the damage from Switzerland’s biggest single-day currency shock this century, Bloomberg said. Two months after the Swiss National Bank abolished its cap on the franc, its officials are preparing their first economic forecasts to assess the impact of that move. President Jordan will give that outlook on March 19 at a policy assessment at which economists predict the central bank will keep its negative deposit rate at a record low. “The strong appreciation of the franc after the cap was given up should significantly hit the Swiss economy,” said Martin Gueth, economist at LBBW in Stuttgart, Germany.

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