- CHF is still high
- will continue to enforce the minimum exchange rate with utmost determination
- prepared to purchase foreign currencies in unlimited quantities
- economic outlook has deteoriated considerably
- SNB still monitoring property markets
- no evidence of decline in mortgage and property imbalances
- Q2 mortgage lending showed slightly weaker growth
- risk of deflation has increased again
- global economic recovery weaker than previously seen
- geopolitical tensions could weigh on confidence
- SNB regularly re-assesses need for adjustment to capital buffer
Talk is cheap but/and it shows the SNB still to be in between a rock and very hard place as I have oft said here
USDCHF back at 0.9380 EURCHF 1.2078
Full SNB statement here
