Tag Archives: SNB currency intervention

The SNB is unlikely to pre-empt the ECB in normalising monetary policy. We are keeping our baseline scenario unchanged and expect the interest on sight deposit to stay at -0.75%.The SNB’s 14 September meeting could be one of the most interesting in a while, as it comes just after a period when the Swiss franc has witnessed significant depreciation, mainly against the euro.The key focus of the SNB’s September 14 meeting will be its assessment of exchange rate moves. We do not expect the SNB...

The SNB is unlikely to pre-empt the European Central Bank in hiking rates. Currency intervention will remain the SNB’s policy tool of choice in the case of renewed strengthening of the Swiss franc.At its June meeting, the Swiss National Bank (SNB) left its accommodative monetary policy unchanged. The interest rate on sight deposits was maintained at a record low of -0.75% and the SNB reiterated its willingness to intervene in the foreign exchange market if needed. Our baseline scenario...