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Head of FI Research at Danske Bank Arne Rasmussen assessed the recent outcome of the SNB meeting.

Key Quotes

“SNB also kept rates unchanged at its quarterly meeting yesterday and maintained that CHF is ‘highly valued’ and kept open the intervention option”.

“Overall, it was a rather dovish message, underlining that the SNB prefers to be side-lined (just like ECB) and still worried about risks from CHF strength”.