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SNB: CHF Firms on 25bps Rate Cut, Retains FX Language

SNB

Full policy statement highlights:

  • Swiss inflationary pressure has decreased "significantly", reflecting appreciation of CHF
  • Further cuts may become necessary in coming quarters
  • Inflation currently being driven by higher prices for domestic services
  • Remains willing to be active in the foreign exchange market as necessary.

CHF snaps higher in the initial reaction - EUR/CHF touches 0.9450 before stabilising

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Full policy statement highlights:

  • Swiss inflationary pressure has decreased "significantly", reflecting appreciation of CHF
  • Further cuts may become necessary in coming quarters
  • Inflation currently being driven by higher prices for domestic services
  • Remains willing to be active in the foreign exchange market as necessary.

CHF snaps higher in the initial reaction - EUR/CHF touches 0.9450 before stabilising

Keep reading...Show less