SNB’s Zurbruegg: Risk on Swiss banks from rising property prices is not too high

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“Risk on Swiss banks from rising property prices is not too high,” Swiss National Bank’s Vice-Chairman Fritz Zurbruegg said on Friday.

“Affordability risks are high and are increasing – particularly with financing for investment properties,” Zurbruegg added, as reported by Reuters.

USD/CHF reaction

These comments were largely ignored by the market participants. Ahead of Retail Sales and Industrial Production data from the US, the USD/CAD was trading at its highest level since late December at 0.9815, adding 0.22% on a daily basis. 

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