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- EUR/CHF: SNB rate hike to underpin downward trend – Danske Bank
EUR/CHF: SNB rate hike to underpin downward trend – Danske Bank
EUR/CHF is trading below the 0.97 mark. Economists at Danske Bank discuss the Swiss National Bank (SNB) policy outlook and its implications for the Franc.
Near-term upside potential if the SNB decides to stop intervening
The SNB Governor Jordan's hawkish comments and the current inflation levels suggest that the SNB will not conclude its hiking cycle or allow a significant depreciation of CHF.
The SNB will raise its policy rate by an additional 25 bps at the September meeting, resulting in a policy rate of 2.00%. This move is expected to contribute to the downward trend of the EUR/CHF pair. However, if the SNB decides to completely stop intervening, there is potential for a near-term appreciation of the EUR/CHF pair.
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