15 January 2015 - Group

Luke Bartholomew Comments on Swiss National Bank Announcement

Aberdeen Asset Management Investment Manager Luke Bartholomew comments:

"This is a huge move from the Swiss National Bank. Switzerland's problem is that it is almost too credible as a safe haven. People desperately want to hold the currency to shield themselves from the risks they see elsewhere, particularly in the Euro area. But with the prospect of QE from the ECB next week the SNB must have felt their peg was no longer tenable. Instead they have cut rates even more negative and there's a real possibility that interest rates could go much lower from here."

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