More from the on-going presser

Zurbruegg:

  • CHF less volatile since the end of exchange rate floor

Really?

Jordan:

  • SNB looking at IMF suggestions about Swiss monetary policy

That last comment is in reference to the IMF proposal put fwd in March which suggested the SNB introduce a form of ccy QE

In its annual assessment the IMF proposed that Switzerland "ease monetary policy further" to bolster growth and reduce risks related to "very low inflation"

Purchases could consist of foreign currency assets, and perhaps some domestic assets - though scope for this is more limited - with the pace of purchases adjusted as necessary in response to developments.

In addition the policy rate should be maintained at its current negative level for now, as this has been helpful in reducing franc appreciation and deflationary pressures

USDCHF still kicking around 0.9170 and EURCHF up a tad to 1.0462