Swiss Economicblogs.org
Before any rate cut, intervention in the forex market is likely to remain the Swiss National Bank’s first line of defence to counter any appreciation of the CHF.Data published on Monday revealed that commercial banks’ sight deposits at the Swiss National Bank (SNB) rose by CHF1.7bn last week (see chart), the largest weekly increase since May 2017. The amount suggests the SNB intervened in the FX market, probably ahead of the ECB’s meeting last Thursday.Weekly releases of commercial banks’...
Read More »Looking for evidence of SNB intervention
