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UBS shift their call for SNB policy and now.....>

SNB
SNB: UBS shift their call for SNB policy and now no longer expect a cut from the
bank at their March 19th rate decision as the bank seek to maintain their rate
differential with the ECB.
- However, if the CHF strengthens materially between now and March, that could
force the SNB's hands into moving earlier. UBS now see the SNB favouring rates
policy over FX interventions to manage CHF appreciation after the US added
Switzerland to their currency manipulation watchlist.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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