The latest comments from the Swiss National Bank (SNB) appear to be rather balanced ahead of Thursday’s rate setting meeting. Get your market update from RichardSnowFX here:
Can a ‘Neutral’ SNB Provide Sterling with a Reprieve?
The latest comments from the Swiss National Bank appear to be rather balanced ahead of Thursday’s rate setting meeting. SNB Governing Board member Andrea Maechler commented earlier this month that inflation expectations are anchored and stressed the objective of taming inflation while avoiding a recession. This is in contrast with the ECB’s dilemma where recent data has shown a de-anchoring via 2024 inflation expectations which printed above 2%.
On September the 8th, the main takeaway from SNB Chairman Thomas Jordan’s remarks was that the jury is still out regarding the September 22nd rate decision. He re-emphasized energy price concerns and its effect on price stability while applauding the strength of the local currency which has helped avoid the importation of inflation.’s rate decision but maintains its independency in decision making.
The pair has fallen so far that it has even surpassed the low around the time of the SNB’s removal of the
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