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FRANC

Central bank vows to defend euro-franc floor

The Swiss National Bank (SNB) said on Monday it will continue to defend "with the utmost determination" the exchange rate floor of 1.20 francs a euro following the surprise resignation of the central bank's chairman.

Published: 9 January 2012 16:20 CET
Central bank vows to defend euro-franc floor

“The current monetary policy on the NBS exchange rate of a minimum of 1.20 francs a euro remains unchanged,” the central bank said in a statement, adding it “regretted the decision and the circumstances” that led to Philipp Hildebrand to step down as chairman.

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BANK

Swiss National Bank hit by new spray paint attack

A woman activist spray painted a message on a billboard outside Switzerland’s central bank on Friday in an echo of a similar protest last year in which an 86-year-old woman was arrested.

Published: 27 April 2018 13:00 CEST
Swiss National Bank hit by new spray paint attack
File photo: Fabrice Coffrini/AFP

The incident occurred as the Swiss National Bank (SNB) held its annual general meeting in Bern, the Blick newspaper reported.

An unidentified woman sprayed the message 'please remember why we founded you' on the billboard in red paint.

According to the paper, the protestor was campaigning in support of the campaign for monetary reform, which goes to a nationwide vote in June.

READ ALSO: Why the Swiss National Bank needs more gold

Known as the Vollgeld Initiative in German and the Initiative Monnaie Pleine in French, the initiative calls an end to traditional bank lending and for the SNB to be the only financial institution able to issue money. 

The SNB opposes the sovereign money initiative.

With the help of other activists, the spray painter removed the words a short time later.

Almost exactly one year ago an 86-year-old woman was arrested after spraying an anti-war message outside the SNB in a case that drew worldwide attention.

READ ALSO: Woman, 86, arrested for spraying anti-war graffiti on Swiss National Bank

The peace activist spray-painted ‘Money for weapons kills' on the billboard. 

She was campaigning on behalf of the Group for a Switzerland without an Army (GSsA) which had launched a popular initiative to ban Swiss financing of any company that produces arms. 

If it gathers the required 100,000 signatures by October 2018, the issue will go to a national referendum.