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SNB to keep franc cap, may never need to exit it at all

By Alice Baghdjian ZURICH (Reuters) - The Swiss National Bank is not expected to lift its lid on the Swiss franc until at least 2015, a Reuters poll showed on Tuesday, with some economists suggesting the central bank may never need to officially exit the currency cap at all. The SNB imposed a ceiling on the Swiss franc at 1.20 per euro in September 2011 to fend off deflation and a recession, after investors fleeing the euro zone crisis bid the safe-haven currency up to record levels in a matter of months.

Swiss right-wing forces referendum on banning SNB gold sales

ZURICH (Reuters) - The right-wing Swiss People's Party (SVP) has gathered enough signatures to force a referendum on a proposal to ban the country's central bank from selling any of its gold reserves. The proposal, dubbed "Save our Swiss Gold", would prohibit the Swiss National Bank (SNB) from offloading its gold reserves as well as force it to hold at least 20 percent of its assets in gold, the committee behind the plan said on Wednesday.

Swiss central bank vows to keep defending forex floor

The Swiss central bank pledged Thursday to defend the franc's exchange rate floor against the euro, while maintaining its record low interest rates. The Swiss National Bank, which fixed a minimum exchange rate of 1.20 Swiss francs to the euro in September 2011, said it would "enforce this minimum rate with the utmost determination." An SNB statement emphasised that if necessary, it was "prepared to buy foreign currency in unlimited quantities for this purpose."
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