The SNB meet on 18 June, announcement due at 0730GMT
Some in brief remarks from a client note via BNY Mellon
- SNB marginally more relaxed as Switzerland's neighbours gradually reopen their economies, borders
- this helps make the balance of risks to the outlook for the Swiss economy less towards the downside
- need to intervene in the CHF FX market (to weaken the Swissy) appears to have eased
- but the SNB will still prioritise the exchange rate
- does not rule out a rate cut complement FX policy
- additional stimulus from the ECB & EU moves toward establishing recovery fund have assisted with some reversal of flows back into Europe
