Swiss inflation numbers fell just before the SNB lauched the EUR/CHF floor

We’re looking back at the day the SNB announced the EUR/CHF. It was three years ago today.

Looking back through our posts at ForexLive, the clues about action began to mount.

At 0713 GMT, just 47 minutes before the peg would be announced, we reported: Swiss August CPI -0.3% m/m compared to -0.1% expected, that deflationary reading may have pushed the SNB to act.

At the same time, it was clear the SNB was already acting. There was chatter in the market and just two minutes later we reported that Swiss fx reserves rose to 253.351B in August from 182.078B at end of July