- rate cuts showed rapid impact
Presser underway now here
- negative interest rate exemptions not in Switzerland's interest
- deflationary spiral not expected
- will remain active in a fx markets if necessary
- global outlook risks on Greece. Ukraine
- sustained neg inflation not expected
- CPI expectations in positve territory mid-term
- CHF significantly overvalued
Of course it is. You removed the cap!
- will retain current interest rate level for the time being
- negative rates help weaken franc
USDCHF still falling at 0.9896 as is EURCHF 1.0567 as Jordan suggests lack of interest rate action any time soon
