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- EUR/CHF set to extend its slide towards the 1.08 mark – Credit Suisse
EUR/CHF set to extend its slide towards the 1.08 mark – Credit Suisse
FXStreet reports that economists at Credit Suisse do not expect any significant policy changes from the SNB meeting.
“We do not expect any major changes to the current SNB’s stance at tomorrow’s meeting. Most likely, the SNB will leave its main policy rate unchanged and will keep its FX language intact as well. We note, though, that the recent increase in sight deposits has almost come to a halt. This would suggest that the central bank has stopped intervening for the time being. However, we would not rule out renewed intervention should the franc appreciate significantly and in a speedy fashion.”
“We continue to believe that the divergent monetary policy stance between the Eurozone and Switzerland should weigh on EUR/CHF. Consequently, we believe that EUR/CHF will continue to grind lower towards our 1.0800 target.”
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