Swiss National Bank vice-chairman Zurbruegg speaking in Russia 30 June
Flexible like a 30% appreciation in a session after you remove a cap? Constant intervention ? Yep all very fiexible, for the SNB at least.
Excuse me while I fall about laughing.
- deposit rate of minus 0.75% was absolutely necessary
- sees positive inflation next year "if all goes well"
Can knock that idea on the head then.
Meanwhile USDCHF still clinging to 0.9760 as EURCHF gives up some recent ( SNB-led ) gains
SNB's Zurbruegg - Your flexible friend