Sounds like we can forget about large-scale intervention by the SNB anytime soon. They have used the threat of deflation as the reason to intervene in the past and the stopped when they felt the threat had ended (ad they were billions of francs underwater)…
Rates have to rise in the medium-term, though he says, based on inflation forecasts.
EUR/CHF has eased to 1.2705 from session highs of 1.2735.
Switzerland has “enormous interest” in seeing the European sovereign debt crisis end, Jordan says.
No there’s an understatement.
