Swiss Banks Divorce Euro
It’s a move no one saw coming. Not even the top central bankers in the United Kingdom or the European Union.
The Swiss Bank also cut interest rates by half of a percent. That’s a significant number in terms of interest. From minus 0 point 25 percent to minus 0 point 75 percent. That raises the cost for investors to buy the Franc.
Swiss bankers playing a little hard to get, and maximizing the return for their offering. This news comes just one week before the EU was set to announce new bond buying strategies, propping up the European economy.
Swiss central bankers didn’t agree with their direction. Now, the messy divorce unfolding before our eyes. And it’s an expensive one too. Now, investors are flipping a lot of their portfolios for precious metals and looking for safe haven.
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https://www.youtube.com/watch?v=G5xfwHmVa2c&feature=youtu.be