- removing cap was based on ” the most recent developments”
- says decision wasn’t planned long term
- could not have changed message before cap ended
We were still convinced in December that the franc cap was crucial to conducting our monetary policy
Eamonn had earlier comments here which caused a CHF wobble and sent CHF pairs lower
Bbg has these headlines now from an interview with Corriere del Ticino
Fritz Zurbrügg is a Member of the Board and the Steering Committee of the KOF Swiss Economic Institute
Nothing new in these latest comments really but it does highlight that they apparently knew changes were coming in Jan despite their re-affirmation that the cap was key to policy
USDCHF steadying at 0.8585 EURCHF 0.9950
SNB Zurbruegg – just as picture to put on your dartboard, or so you know who you’re sending a Xmas card to this year, depending on how you were positioned last week
