The Swiss National Bank’s decision to leave policy on hold came as no surprise as easing Brexit fearsand the ECB’s inaction have led upward pressure on the franc to abate. But the SNB made clear that itwill renew its currency interventions if needed. With the ECB set to loosen policy further, we expectthe SNB to intervene later this year and cut its deposit rate to -1.0% in the first half of 2017.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services