SNB's Hildebrand: crisis demands overreaction

The risks associated with doing too little are far greater than those of doing too much, Philipp Hildebrand, the vice-chairman of the Swiss National Bank, has warned.

Hildebrand said that the central bank was aware that long-term risks were associated with the actions it had taken to fight the crisis. But he added that the central bank was "profoundly convinced" that the risks associated with doing too little, let alone doing nothing, were far greater.

He made the comments on 2 April.

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