Comments by SNB vice president Fritz Zurbruegg
- Unstable situation can lead to safe haven flows into the CHF
- Recent developments show negative interest rates and interventions still needed
Nothing new that we didn't already know from the SNB. Everything will stay the status quo until the ECB commits to normalising monetary policy. The issue for the SNB is that inflation is actually improving at a quicker pace than that of the Eurozone, but is still unlikely to change things for the time being as the swissie remains resilient over the last few weeks.
