As the tenth anniversary of the "Frankenshock" approaches, might the Swiss National Bank consider reintroducing a minimum exchange rate for EUR/CHF at some point next year?

A new EUR/CHF floor would be one alternative to taking Swiss interest rates negative if the safe-haven franc remains strong and helps to keep Swiss inflation closer to zero than 2% in 2025.

Any such floor could be set as high as 1.00, probably no lower than 0.92, or somewhere in between.

Should the SNB reduce rates to zero as early as March, following Thursday's 50 basis point cut to 0.5%, it could increase the possibility of the central bank mulling whether to dust off the EUR/CHF minimum exchange rate option in its toolkit - if Swiss inflation/franc levels warrant further action.

The SNB introduced a 1.20 floor for EUR/CHF in Sept.
2011, which remained in place until it was unexpectedly scrapped on Jan.
15, 2015.

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