Swiss Government calls press conference on over-heating housing market

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I’m hearing this is due at 11.00 with Finance Minister Eveline Widmer-Schlump speaking in Bern

The SNB has been raising concerns about the housing market for some time. The counter cyclical buffer is a mechanism which allows the Swiss authorities to tackle overheating in the housing market by putting in place a policy to discourage lending in the housing sector

Would thus help dampen demand and help the SNB to maintain the EURCHF base

USDCHF at 91.78.. EURCHF 1.2370 with EURUSD looking perky too

 

Author: Mike Paterson

Mike Paterson has more than 30 years of experience trading FX including as a senior trader with UBS and Credit Suisse. He was also head of FX at the State Bank of Victoria. With sizeable daily trading volumes Mike carved out a name in the market combining professional integrity with a cynical grasp of seizing market opportunity. Since leaving the City, Mike has been working as an independent consultant and trading along with presenting seminars and writing for a number of publications. Mike lives in Kent and supports Southend United FC.

7 Comments

  1. hi sir , how it will impact eurchf ? any short term view on this parir or over all chfpairs

  2. thats due 11 GMT or CET?

  3. Here are the decissions taken and published today by the Swiss Governement in their weekly meeting.

    http://www.news.admin.ch/dokumentation/00002/index.html?lang=en

    The press conference following the meeting takes usually place between 11:30h and 14:30h and can be followed here

    http://www.tv.admin.ch/de/live

    I think this story is crap and even if not he capital buffer wouldn’t dampen the demand for the Swissie.

    But the techs look great for EUR/CHF

  4. I appreciate the input BT

  5. im hearing now 10.00 GMT so just be prepared

  6. It’s out now. They announced a capital buffer of 1%. That means that banks have to secure theis mortgage lending with 1% more capital. Therefore some banks will have to increase their capital basis. The big ones like UBS and CS shouldn^t beaffected, but some cantonal bank (ZKB) and regional banks.

    That won’t stop the opverheating which I don’t see but it will make the banks more secure.

    Still I don’t see any reason why EUR/CHF should get a boost from this.

  7. hi BT,
    this statement is good for eurchf ? or

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