Soaring Swiss franc raises intervention stakes as ECB prepares to ease

London

SWITZERLAND'S franc has surged against the euro to its strongest in two years as markets bet on monetary easing by the European Central Bank (ECB), putting pressure on Swiss officials desperate to protect their export-heavy economy to act.

Like other European policymakers from the Czech Republic to Sweden, the Swiss National Bank has stuck to monetary policy even looser than the ECB's to keep its currency from gaining against the euro and to boost inflation. A strong franc makes Swiss exports more expensive and competing imports cheaper.