Expect more of the same from the Swiss National Bank
With Swiss growth contracting in Q3 and core inflation still relatively subdued, there isn't much room for the SNB to deviate from its current stance on monetary policy. They will very much leave rates unchanged later but the key thing to watch for is the language on the Swiss franc. The SNB has reiterated that the franc remains 'highly valued' and they aren't expected to change that rhetoric this time around as well.
Given that EUR/CHF still sits comfortably in the range of 1.12 to 1.14, the central bank is not expected to pull off any moves here so that will mean that this will be a bit of a bore. However, given that recent economic data has been a little sluggish expect risks to be tilted to the downside as the central bank may lower growth and inflation forecasts; though that shouldn't have a major impact on the swissie.
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