I don’t believe we’ve heard that line before. I thought the SNB preferred to leave it ambiguously.

Otherwise, it’s all the regular platitudes

  • SNB stands ready to take further measures as needed
  • Central bank stands ready to enforce cap
  • EUR/CHF floor is the right tool for ensuring price stability
  • Risks to the world economy on the downside

If this nonsense in the US continues, you can expect the SNB will be tested again as the market buys francs in search of a safe haven