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Press Review: SNB Seen Delaying Cap Exit as Draghi Bond Purchases Loom
SNB Seen Delaying Cap Exit as Draghi Bond Purchases Loom
Switzerland's central bank will keep its cap on the franc into 2017 to ward off the effects of the European Central Bank's unconventional measures, according to Bloomberg News's monthly survey of economists.
More than half of respondents say the SNB won't remove its ceiling on the franc of 1.20 per euro until that year or later. Just 3 of 18 expect an exit next year.
Iraq's Biggest Oil Plant to Reopen After Militants Moved
Iraq's biggest oil refinery at Baiji is set to restart processing in about three months after government troops forced Islamic State armed militants away from the facility.
Iraqi troops will expel the militants from areas near a pipeline supplying the refinery 130 miles (209 kilometers) north of Baghdad, Colonel Khalaf al-Jabouri, a member of Iraq's anti-terror forces, said by phone. It will take about three months to restart the plant because workers have fled to other provinces, refinery units need maintenance and militants still control part of the pipeline network, according to Saad al-Azzawi, an engineer at Baiji.
Dollar firm as Fed minutes likely to highlight policy divergence with peers
The dollar hit a fresh seven-year high against the yen on Wednesday, and held near a 14-month peak versus sterling, as investors added favorable bets ahead of Federal Reserve minutes that could highlight policy divergence with its peers. The yen was on the defensive, falling to a six-year trough against the euro, after Japanese Prime Minister Shinzo Abe's decision to postpone a sales tax rise was seen as supportive for stock markets and negative for the yen.
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