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Mar 23 - 12:55 PM

CHF: SNB Has Less Room For Maneuver; Where To Target EUR/CHF? - Credit Suisse

By eFXdata  —  Mar 23 - 10:45 AM

Credit Suisse discusses its expectations for tomorrow's SNB policy meeting.

"Tomorrow’s SNB meeting could potentially result in some changes to the central bank’s long-term inflation forecast, given the recent positive inflation surprises. We continue to believe that rising inflation pressures in Switzerland will reduce the likelihood of large-scale SNB FX interventions. In addition, we are still not convinced that the Swiss franc is as “highly valued” as the SNB claims. Geopolitical risks could also spur demand for the franc as a safe haven," CS notes. 

"Therefore, we stick to our 0.9700 target in EURCHF. A swift resolution in the Ukraine conflict would be detrimental to our view," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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