- Won’t provide details of SNB interventions
- Further measures include higher deposit charge
- Expects banks to pass on negative rates to big customers
- Negative rates are the best measure at this time
All that remains to be seen is how the dynamics of the EUR/CHF trade have changed. With the world and his mate waiting for a pop over the gold vote I suspect that many have taken this opportunity to lighten up or get out altogether. That might make the market a little more two way now.
And to prove my point I expect we’ll see more comments along these lines.
Overchuffed
Looks like there will be more than a few glass raised to Mr Jordan at dinner tonight
